Egyptian Gov't aims to increase FDI to $16 Bln by FY 25/26
A parliamentary report issued by the Senate Financial, Economic and Investment Affairs Committee studied the economic and social development plan for the fiscal year 2023/2024 submitted by the government to Parliament.
The report showed that the government aims to advance the economic growth rate to 5.2 percent at the end of 2025/26, and to increase net foreign direct investment to reach $11 billion in the year of the plan by about $16 billion at the end of 2025/26.
The parliamentary report confirmed that the state’s plan aims to stimulate commodity exports to exceed $58 billion in 2024/23, and reduce the deficit in the trade balance of GDP to 13 percent, to continue its decline to less than 10 percent at the end of the plan.
The report of the Senate Parliamentary Committee indicated that the most prominent directions of the development plan are:
The completion of the second phase of the economic reform program; the completion of the activation of both presidential initiatives, "Hayah Karima" and Comprehensive Health Insurance; in addition to the promotion of private sector participation in development; increasing the investments directed towards building a green economy; confronting the dangers of climate change; containing inflation; improving indicators of financial sustainability; encouraging the flow of direct foreign and Arab investments; developing commodity and service exports, and adopting policies aimed at improving the standard of living of the middle and poor classes.