Wed/March 26/2025 – 09:38 AM
Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, has announced the continued recovery of economic growth to record 4.3% in the second quarter of 2024-2025 with the support of macroeconomic stability compared to 2.3% in the coming period.
Strong performance for manufacturing and tourism industries
She explained Minister of Planning And economic development and international cooperation, in a statement, that the financial and monetary corrective policies implemented by the government and reduce public investments have established macroeconomic stability and enhanced growth recovery, explaining that there are positive future prospects for GDP growth in support of macroeconomic stability, structural reforms and diversification of the Egyptian economy structure.
She stated that the performance of non -petroleum manufacturing industries, tourism and communications sectors, strong, and non -petroleum manufacturing industries leading economic growth at a rate of 17.74% compared to 11.56% in the corresponding period by supporting increased production and customs release facilities.
The most prominent developments:
The tourism sector continues strong performance … 18% growth in restaurants and hotels and 41.92 million tourist nights.
– The continued increase in the private investment for the second quarter to acquire more than 50% of the total investments … and the contraction of public investments by 25.7%.
– Communications and information technology achieve 10.4% growth driven by the expansion of digital infrastructure and increased demand for services.
– High growth, despite the continued reverse influence of geopolitical tensions on the activities of the Suez Canal … and the decline in the delay sector.
The continued economic reforms enhance the shift towards a more competitive and sustainable economy and supports investor confidence.
The net exports turn to the positive contribution to growth in the second quarter of the current fiscal year, driven by the growth of commodity and service exports.
