Arab Finance: Egypt’s gross domestic product (GDP) grew at its fastest pace in over three years, recording 5.3% in the first quarter (Q1) of fiscal year (FY) 2025/2026, according to a statement.
The Ministry of Planning, Economic Development, and International Cooperation affirmed that Egypt’s economic outlook is more positive with continued reforms, projecting a growth of 5% by year-end.
Meanwhile, private sector investments achieved a remarkable surge of 25.9%, accounting for 66% of total investments.
Likewise, the Suez Canal achieved growth of 8.6%, its first time since December 2014, with the return of stability to the Red Sea region.
In Q4 FY 2024/2025, the GDP growth rate increased to 5% from 2.4% in Q4 FY 2023/2024.
Minister of Planning Rania Al-Mashat previously revealed that Egypt aims to raise its economic growth rate to 7% by 2030, versus a targeted growth of 4.5% set for FY 2025/2026.