Dr. Ashraf Ghareeb, an economic expert and Vice President of the Arab Union for Social Development, emphasized the significance of allocating EGP 78 billion in the new budget to stimulate the private sector. This funding aims to boost production, enhance exports, and support priority industries, reflecting the state’s focus on rapid-growth sectors. The allocation includes EGP 29.6 billion for industrial production, marking a 69% increase from the current fiscal year, and EGP 5 billion to expand priority industries. \n\nGhareeb explained that this financial support encourages local manufacturing, reduces production costs, and enhances the competitiveness of Egyptian products globally. Additionally, EGP 45 billion has been earmarked for export support, ensuring timely payments to exporters and improving liquidity. Another EGP 8.4 billion is dedicated to tourism investments, aiming to accommodate rising tourist numbers, which reached 16 million in 2024. \n\nThe budget also provides EGP 5 billion for small and medium enterprises (SMEs), which represent 90% of companies in Egypt and contribute significantly to employment and GDP. Furthermore, EGP 3 billion each will support the automotive industry and energy efficiency initiatives, aligning with national goals for sustainable development and reduced fuel imports. These measures collectively aim to strengthen Egypt’s economy and reduce reliance on imports. \n— new from الوطن
