Egyptian President Abdel Fattah El-Sisi recently convened a meeting with Prime Minister Mostafa Madbouly and Planning and Economic Development Minister Ahmed Restom to review the country's socioeconomic development plan for the 2026-2027 fiscal year. The plan aims to achieve a 5.4% growth rate, with a total investment of 3.7 trillion Egyptian pounds. Minister Restom highlighted the government's efforts to improve the investment climate and protect investors' rights through legal and legislative reforms.
The meeting also covered the National Program for Economic Transformation (2027-2030), which is being developed based on existing sectoral strategies, industrial development strategies, and national employment strategies. The program focuses on applying specific procedures to enhance the national economy's resilience in the face of crises. President El-Sisi emphasized the importance of promoting private sector participation, enabling competition, and increasing employment levels to create job opportunities that improve citizens' living standards.
Minister Restom presented a plan to develop and expand electronic payment tools for public services, making them accessible to citizens inside and outside Egypt. This initiative is part of the outcomes of the "Egypt 2026" forum. President El-Sisi stressed the need to promptly study and develop innovative electronic tools to support the state's efforts in mechanizing citizen-oriented services, facilitating access, and enhancing government work efficiency and transparency.
The Planning and Economic Development Ministry is working to identify the most in-demand skills in the job market, supporting decision-makers in workforce planning. The ministry is also expanding scientific and training partnerships to qualify and train leaders and employees in the state administrative apparatus, as well as infusing new talent into the apparatus. This includes a partnership with the company "LinkedIn".
President El-Sisi also reviewed preparations for hosting a business meeting in Cairo, in collaboration with the World Economic Forum, scheduled for November 16-17, 2026. The President highlighted the significance of this meeting as a platform to showcase investment opportunities in various sectors in Egypt.
The President directed the completion of regulatory and institutional frameworks to launch new financing mechanisms in collaboration with international institutions, with private sector participation in infrastructure projects, to reduce pressure on foreign currency. He also instructed the evaluation of financing requests to ensure they align with state priorities and assess available alternatives to choose the most cost-effective and suitable options.
The meeting was attended by Presidential Spokesperson Mohamed El-Shanawany, who stated that the President and ministers discussed key aspects of the development plan, emphasizing the importance of cooperation between the government and private sectors to drive growth and improve the business environment.
Key points
- Egypt aims to achieve a 5.4% growth rate in the 2026-2027 fiscal year.
- The government plans to invest 3.7 trillion Egyptian pounds to achieve the growth target.
- The National Program for Economic Transformation (2027-2030) focuses on promoting private sector participation and enhancing the national economy's resilience.
