Al-Mashat: Industrial activity recorded a growth of 14.5%, the tourism sector 13.8%, and communications 14.5%.
Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, reviewed developments in economic performance during the first quarter of the fiscal year “2025 – 2026”, during the weekly press conference held by Dr. Mustafa Madbouly, Prime Minister, at the government headquarters in the new capital.
The Minister announced that “Gross Domestic Product has recorded a growth of” 5.3%" During the first quarter, it was “the highest in more than three years,” compared to 3.5% in the corresponding period last year, and 2.7% in the previous fiscal year.
Al-Mashat explained that a number of sectors led this improvement, most notably “non-petroleum industrial activity.” Which recorded a growth of "14.5%" Driven by higher production in the automotive, chemicals, beverages, pharmaceuticals and ready-to-wear industries. The “communications and tourism sectors” also recorded A growth of "14.5%" and "13.8%" respectively.
The Minister revealed strong expectations for the continued growth of the non-petroleum industry, especially with plans to manufacture more than “10 million mobile phones during 2025.” Compared to only 3.3 million devices last year.
With regard to investment, Al-Mashat confirmed that “private investment jumped by 25.9%.” To reach “167.6 billion pounds,” accounting for “66% of total investments,” driven by the improvement of the business environment and the availability of local credit to the private sector.
In the tourism sector, the Minister indicated the continued recovery of activity, as the number of tourist nights rose to “58.7 million nights.” Compared to 51.6 million nights last year, the number of tourists also increased to “5.1 million tourists.” With a growth rate of “19.2%”, supported by the continuous development of tourism infrastructure, digital transformation, and preparations for the opening of the Grand Egyptian Museum.
Al-Mashat announced that “Suez Canal activity” Recorded its first positive growth in more than a year at "8.6%" With the beginning of the recovery of global trade movement and the return of relative stability in the Red Sea.
The “electricity” sector also recorded A growth of "5.4%" As a result of increased energy use in the industrial, commercial and domestic sectors, while the “banking sector” achieved A remarkable growth of "10.2%" Supported by financial stability and Standard & Poor’s raising Egypt’s credit rating.
In the structural reforms file, the Minister explained that the state has implemented “more than 350 measures” Within the reform program, including 87 measures targeting emerging companies, 45 measures for digital transformation, and 30 measures for the industrial sector, stressing that these reforms support the growth of productive and export activities.
Al-Mashat concluded her presentation by stressing that the expectations for the fiscal year “2025–2026” It indicates continued positive performance, with the possibility of growth rate exceeding "5%" In light of macroeconomic stability and the progress of reform programs, in addition to the improvement of regional conditions with the support of the efforts of the political leadership.
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