Egypt Increases Economic Growth Projections Through 2029

The Egyptian government has revised its GDP growth forecast for the current fiscal year to 5.3%, an increase from the previous estimate of 4.5%, according to an official document reviewed by Asharq.

This adjustment reflects heightened confidence in the economy's capacity for recovery and ongoing expansion in the years ahead.

Looking forward, the government anticipates a growth rate of 6% for the next fiscal year, up from earlier projections of 4.8%.

The upward trend is expected to continue, with Egypt aiming for a growth rate of 6.5% in the fiscal year 2027/2028, compared to prior forecasts of 5.5%.

For the fiscal year 2028/2029, the government is targeting a growth rate of 7%, an increase from the previous target of 6%.

These projections indicate a clear intent to accelerate economic growth, aligning with the state’s plans to boost investment, enhance local production, and narrow the gap with other emerging economies.

Through this growth trajectory, Egypt aims to position itself as a leading emerging economy in the region, with a focus on achieving financial stability and enhancing competitiveness over the next four years.