IMF and World Bank expect Egypt’s economic growth to increase

Minister of Planning, Economic Development, and International Cooperation Rania al-Mashat participated in a press conference held by Prime Minister Mostafa Madbouly following the weekly cabinet meeting.

Mashat reviewed the most important economic developments, including the results of Egypt’s participation in the Spring Meetings of the International Monetary Fund (IMF) and the World Bank, and their outlook on the Egyptian economy.

Mashat revealed, according to a statement on Tuesday, that the Ministry of Planning, Economic Development, and International Cooperation will announce the details of the National Economic Development Narrative in June.

The narrative will include clear targets for macroeconomic policies, foreign direct investment, industrial development, jobs, and the labor market, in line with the government’s work program, Egypt Vision 2030, and the economic reform policies currently being implemented, she said.

Mashat discussed the spring meetings of the IMF and the World Bank and their forecasts for global economic growth in light of recent economic developments such as protectionist trade policies.

The global economic situation is uncertain, she said, a fact which was clearly evident in meetings with officials from international institutions, think tanks, decision-makers, and other government officials.

Mashat added that protectionist trade policies and uncertainty were reflected in the results of the IMF’s World Economic Outlook report.

She explained that the report set a baseline scenario indicating that global economic growth would decline from 3.3 percent in 2024 to 2.8 percent in 2025, before rebounding to three percent in 2026 – a decrease of 0.5 percent and 0.3 percent from previous forecasts, if the announced trade policies remain as they are.