Egypt Targets 6.8% Growth by 2029/30 in 2027-2030 Program

Egypt concluded the "Egypt Forum 2026" with the announcement of a national economic transformation program for the 2027-2030 period, targeting an increase in the growth rate to 6.8% by the 2029/2030 fiscal year, up from 5.1% in the last fiscal year.

Prime Minister Moustafa Madbouly said that the program aims to reduce inflation from 13.3% to a range of 5% to 7%, lower unemployment from 5.8% to 5.5%, and raise investment to 20% of GDP from 12.7%. He added that the government wants to increase the private sector's share of investment from 57.7% to 67%.

Madbouly explained that foreign exchange reserves reached $57.3 billion at the end of September 2026, compared to about $16.7 billion in 2013/2014, but noted that high debt service costs, inflation, population growth, and pressure on household purchasing power remain key challenges.

He stated that the program will undergo public consultations before its expected completion at the end of December, and that the government will publish the plans and implementation measures for the next three years via the forum's online platform. The goals also include improving wages, increasing personal income tax exemptions, and expanding access to healthcare, education, and housing.

What do these terms mean?

Growth Rate: The rate at which Gross Domestic Product (GDP)—the total sum of goods and services produced by a country—increases from one year to another.

Inflation: The continuous rise in the price level of goods and services, measuring the decline in money's purchasing power.

Foreign Exchange Reserves: Foreign currency assets held by the central bank, used to support the local currency and meet external obligations.