Dr. Hisham Ibrahim, Professor of Finance and Investment at Cairo University, confirmed that Egypt’s economic growth rate reached 5.3% in the recent period, describing the figure as positive and reflective of broadening economic activity across multiple sectors. He noted that unlike previous years, where growth was primarily driven by consumption, the current expansion includes significant contributions from various industries, particularly manufacturing.
In a televised statement, Dr. Ibrahim emphasized that the rise in GDP is not isolated but supported by performance improvements in tourism, information and communications technology, construction, and real estate. This diversified growth pattern indicates the effectiveness of ongoing industrial development policies led by the Deputy Prime Minister for Industrial Development and relevant ministries.
He attributed recent industrial successes to improved investment conditions, which have attracted delegations from major global companies over recent months. These developments have also boosted the Suez Canal Economic Zone as a key destination for foreign capital. The current growth rate surpasses the previous 5%, suggesting the possibility of further gains by year-end.
Dr. Ibrahim expressed confidence that this upward trajectory will continue, reinforcing long-term economic resilience. He concluded that sustained expansion will generate positive ripple effects across various sectors, strengthening Egypt’s overall economic position in the global landscape.
— news from \”الجريدة العقارية\”