El-Sisi directs improving conditions for attracting more FDI
According to Presidential Spokesperson Ambassador Mohamed El-Shennawy, El-Sisi also directed the development of an appropriate legislative and regulatory framework and the launch of incentives to enhance financial and monetary policy reforms and bolster the private sector's role in Egypt.
Moreover, the meeting addressed macroeconomic indicators, the government’s efforts to enhance the banking sector's performance, and indicators related to strengthening the country’s foreign currency reserves to ensure the continuous availability of adequate foreign reserves.
They also reviewed ongoing efforts to reduce inflation rates further.
The spokesperson added that the directives align with the state's efforts to improve overall economic indicators, diversify its production structure, and create promising opportunities to attract investments, create jobs, and increase GDP growth rates.
The meeting also addressed several key areas related to the Egyptian economy's performance, including the government’s efforts to ensure the successful and effective implementation of the economic development programme and safeguard it from current regional and global challenges.
Furthermore, they discussed ways to enhance incentive packages to capitalize on available economic opportunities and enable the private sector to drive economic growth, attracting more investment inflows.
Egypt's economic progress
The presidential directives came two days after PM Madbouly’s meeting and press conference with Nigel Clarke, the International Monetary Fund's (IMF) deputy managing director, as part of the IMF delegation’s current visit to Egypt to conduct the fifth review of the country’s ongoing economic reform programme.
During the press conference, Prime Minister Madbouly affirmed that Egypt's economy has shown resilience and capability to withstand major external shocks amid global turmoil.
He cited key macroeconomic indicators, including a real GDP growth rate of about 3.9 percent in the first half (H1) of FY2024/2025 (July–December 2024), calling it a positive sign.
He also noted that inflation fell sharply to 13.9 percent in April, down from over 37 percent during the same period in 2024.
Madbouly also said private sector investments rose by 80 percent, while foreign direct investment increased by roughly 17 percent from July to December 2024.
He added that non-oil exports grew by around 33 percent in the year's first nine months.
On debt reduction, he said Egypt is working under the $8 billion IMF Extended Fund Facility to cut the debt-to-GDP ratio to 85 percent by June 2025, down from 96 percent in June 2023.
He further noted that the budget deficit has decreased to 6.5 percent from 6.7 percent over the past 10 months.
Meanwhile, Clarke said Egypt has made clear progress in its reform programme, crediting the government’s decisions for the positive results.
He also highlighted growing private sector financing and its larger share of GDP, stressing that private-led growth is key to a more sustainable economic model.