How Egypt achieved comprehensive economic development in 10 yrs

Over the past ten years, the Egyptian Ministry of Planning and Economic Development has strived to achieve extensive economic progress. The government has had significant success in implementing the priority structural reforms program in the Egyptian economy. This marks the second phase of the National Economic and Social Reform Program, aiming to convert the course of the Egyptian economy to become a productive economy. Despite global challenges, the total investments during the past nine years crossed 1.65 trillion pounds for the fiscal year 2023/2024. This growth, about 4.1 percent chronicles amidst the ongoing global circumstances. The growth rate has exceeded the average global economic growth in 2022 and 2023, which was 3.4 percent and 2.8 percent, respectively. The state has shown considerable interest in the private sector, with ambitious targets for private investments reaching about 600 billion pounds for the fiscal year 2023/2024- which is 36 percent of the total targeted investments. Simultaneously, the actual rate is 29 percent in 2021/21. The fixed public investments are estimated at about 1,050 billion pounds, which is about 64 percent of the total investments. Under President Abdel Fattah al-Sisi's leadership, there have been strenuous efforts to stabilize the foundations of the state, rebuild national institutions, and ignite a major development renaissance with the Sustainable Development Strategy Egypt 2030, which is divided into 12 main axes that include education, innovation, knowledge, social justice, transparency, efficiency of government institutions, economic development, urbanism, energy, culture, environment, domestic policy, national security, foreign policy, and health.