Arab Finance: Minister of Planning and Economic Development Ahmed Rostom outlined economic growth rate estimates for the coming fiscal years (FYs), with the Egyptian economy expected to record a 5.4% growth by the end of FY 2026/2027.

In line with the developed medium-term plan, the growth rate is likely to reach 6.8% in the end of FY 2029/2030.

Rostom affirmed that the government developed a conservative growth scenario, assuming continued uncertainty in the Middle East region or globally.

Five sectors are expected to contribute nearly 64% to economic growth during FY 2026/2027. The manufacturing segment would lead with a 29% contribution, followed by wholesale and retail trade at 11.3%, tourism at 9.3%, construction at 7.2%, and agriculture at 7%.

The gross domestic product (GDP) at current prices is projected at around EGP 24.5 trillion in the next FY, versus EGP 21.2 trillion expected by the end of FY 2025/2026. The agriculture, industry, construction, and wholesale and retail trade sectors are expected to contribute 62% of GDP.

The minister touched upon the repercussions of regional tensions on the Egyptian economy, noting that over the past two decades, the economy has been exposed to numerous domestic and external shocks that have affected the sustainability of economic growth.

However, the government exerted efforts to implement its economic and social development plans, enabling the state to achieve growth of up to 4.4% in FY 2024/2025, compared to 2.4% in FY 2023/2024, with strong performance in the first and second quarters of the current FY.

Speaking in an interview with Asharq Business on the sidelines of the Spring Meetings of the International Monetary Fund (IMF) and the World Bank in Washington last April, Rostom pointed out that Egypt’s economy is projected to grow between 4.8% and 5% during Q3 FY 2025/2026.