Prime Minister Mostafa Madbouly recently unveiled Egypt’s ambitious three-year economic plan to the House of Representatives. This significant milestone for the newly inaugurated government at the New Administrative Capital revolves around the theme “Together We Build a Sustainable Future.”
The comprehensive agenda is aimed at realizing Egypt’s Vision 2030, with a strong focus on sustainable growth and development. Madbouly underscored the government’s commitment to achieving an initial growth rate of 4.2% in the first year, followed by sustained growth exceeding 5% annually. The plan, informed by national dialogue sessions, incorporates strategic reforms targeting key sectors such as infrastructure, energy, industry, and social welfare.
“We are committed to our mission of advancing our nation and fulfilling the aspirations of our people,” stated Madbouly, emphasizing the plan’s emphasis on improving citizens’ quality of life and advancing sustainable development objectives.
According to Daily News Website Madbouly acknowledged the challenges posed by Egypt’s complex economic environment, further strained by global factors such as the economic repercussions of the Russia-Ukraine conflict. He highlighted ongoing efforts to address inflation and supply chain disruptions impacting Egypt’s economy.
During his address, the Prime Minister emphasized Egypt’s commitment to promoting regional peace amidst recent escalations and addressing regional conflicts. He expressed condemnation for the violence in Gaza and the West Bank, highlighting the importance of stabilizing Suez Canal revenues and regional trade.
The Prime Minister reiterated the government’s dedication to navigating challenges while prioritizing national development goals. Furthermore, he underscored the importance of collaboration with stakeholders to achieve sustainable growth, prosperity, and stability for Egypt.
During his parliamentary address, Madbouly detailed the strategic priorities of Egypt’s newly formed government, emphasizing national security, cultural development, and economic stability.
The government is steadfast in its commitment to enhancing essential services such as healthcare and education, while concurrently implementing economic reforms to mitigate inflation, promote growth, and improve living standards, thereby alleviating financial pressures.
In his update on economic stabilization, Madbouly emphasized a notable decrease in inflation rates, dropping from 39.7% in August 2023 to 27.4% in May 2024. The upcoming economic initiatives will focus on bolstering agricultural expansion, implementing digital transformation strategies, and modernizing markets and public services.
Madbouly underscored the commitment to addressing citizens’ concerns and alleviating their hardships, with a special emphasis on improving public services and infrastructure throughout Egypt.
