The Egyptian government has formally introduced its long-term economic vision extending to 2030, marking a strategic shift beyond its current International Monetary Fund (IMF) support program, which is set to conclude in October of the coming year. This new framework, titled “National Narrative for Economic Development: Policies Supporting Growth and Employment,” was unveiled during a comprehensive cabinet-level press conference held in the New Administrative Capital.
A central goal of the strategy is to elevate the country’s annual economic growth rate to 7% by 2030, a significant increase from the 4.5% targeted in the 2025–2026 fiscal year plan. Prime Minister Mostafa Madbouly emphasized that this roadmap, which will extend conceptually to 2050, aims to ensure sustainable development and reduce reliance on external financial assistance.
The plan outlines several key benchmarks: boosting total investments to 18% of GDP from the current 15.2%; raising private sector investment share of total investment to 66% by 2030, up from 60%; and increasing the private sector’s contribution to GDP to 82%. Additionally, the government aims to generate 1.5 million jobs annually by the target year, up from an expected 900,000 in the current year.
To support green development, public investments in environmentally sustainable projects are projected to rise to 75% by 2030, compared to 50% in the current fiscal cycle. Exports are also targeted for substantial growth, with a goal of reaching $145 billion over the next five years, up from $62.8 billion in 2024.
Finance Minister Ahmed Kojak revealed that at least 50% of proceeds from the government’s asset listing program will be allocated to debt reduction. The administration also plans to introduce a second package of tax incentives focused on compliant businesses and taxpayers, following the initial phase that has already attracted around 650,000 new tax filings and generated approximately EGP 1 billion in voluntary payments.
In industrial revitalization, the government reports having reactivated 1,235 struggling factories out of a total of 6,000 currently inactive. A new fund, financed by banks, has been established to support the rehabilitation of these facilities, allowing original owners to regain equity after successful recovery. The long-term target is to expand the total number of factories in Egypt to 100,000 by 2030.
Furthermore, a new State Ownership Policy Index is being developed by the Cabinet’s Information and Decision Support Center to monitor the government’s evolving economic role. Options under this policy include full or partial divestment, asset transfers to the sovereign wealth fund, restructuring, or operational retention.
Investment facilitation measures include consolidating all fees and charges into a single economic entity platform under the principle of “one license, one fee,” to be implemented within one to two years. Currently, customs clearance time has been reduced to 5.8 days from 14, with a target of cutting it further to two days by year-end.
The full vision, including three alternative scenarios, will be opened for a two-month public consultation before final adoption by the end of the year.
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Egypt Unveils Vision for Post-IMF Economic Path
The Egyptian government has launched its economic vision for the next five years, coinciding with its intention not to pursue a new program with the International Monetary Fund, scheduled to end in October next year.
The program, whose initial outlines were announced today during a press conference attended by the entire cabinet in the New Administrative Capital, includes raising the targeted economic growth rate to 7% by 2030, compared to 4.5% in the current 2025–2026 fiscal year plan.
Egyptian Prime Minister Mostafa Madbouly stated earlier this month that the government has an economic vision extending to 2030, going beyond the IMF agreement, noting that the economic vision titled “National Narrative for Economic Development: Policies Supporting Growth and Employment” will be opened for public dialogue.
The International Monetary Fund slightly improved its outlook for Egyptian economic growth in the past fiscal year, but downgraded it for the current year. In a press briefing following the release of the July World Economic Outlook report, the Fund attributed the higher growth estimate in the previous fiscal year to “better-than-expected data and higher-than-expected output in the non-oil sector, particularly tourism and telecommunications.”
Read also: IMF Raises Growth Forecast for Egypt in Past Fiscal Year, Lowers It for Current
National Narrative for Economic Development
The government plans to present its vision, titled “National Narrative for Economic Development,” next week, including three different scenarios, to be opened for two months of public dialogue, with an aim to launch it before year-end.
Egyptian Prime Minister Mostafa Madbouly said during his speech at today’s report launch conference that the government aims to reduce debt levels to the lowest figure the country has ever recorded, adding that full details will be revealed next week.
The government is working to increase Egyptian exports by 20% this year compared to last year, targeting a similar annual increase until 2030. Madbouly said, “We are projecting an economic vision extending to 2050 to ensure sustainable development.”
The private sector will lead development in the coming period, according to the Prime Minister, who noted that the government has been preparing the ground for this shift in recent years.
Egypt’s non-oil private sector remained in contraction territory in August due to dual pressures from declining output and new orders for the sixth consecutive month, although cost pressures eased slightly, according to the Purchasing Managers’ Index released last week by S&P Global.
Read more: Private Sector Activity in Egypt Continues to Contract Amid Output and Demand Pressures
Key Features of the New Vision:
Increase total investments to reach 18% of GDP, compared to 15.2% in the current fiscal year plan.
Raise the share of green projects in public investments to 75% by 2030, compared to 50% in the current fiscal year.
Increase the share of private investment in total investment to 66% by 2030, compared to 60% in the current plan.
Raise the share of private investment to GDP to 11.9%, compared to 9.1% in the current plan.
Increase the private sector’s contribution to GDP to 82% by 2030.
Raise the number of jobs generated annually from 900,000 expected this year to 1.5 million by 2030.
Debt Reduction
The Egyptian government aims to allocate at least 50% of proceeds from its government listing program to debt reduction, according to Egyptian Finance Minister Ahmed Kojak, in addition to lowering inflation rates and directing larger allocations to health and education.
Kojak revealed that the second package of tax incentives will be launched soon, targeting the business community and compliant taxpayers, and the government will also announce a package of real estate tax facilitations.
The government expects to collect around EGP 1 billion voluntarily from taxpayers since the implementation of tax incentives to date. Tax facilitations have attracted 650,000 new tax declarations since their launch.
Reviving Struggling Factories
The government has reactivated 1,235 struggling factories out of a total of 6,000 currently inactive in Egypt, according to Kamel El-Wazir, Deputy Prime Minister and Minister of Industry and Transport.
The government aims to increase the number of factories in the country to 100,000 by 2030, up from 68,000 in 2024. It also aims to increase exports to $145 billion over five years from $62.8 billion in 2024.
Egyptian President Abdel Fattah El-Sisi has approved a new initiative to revive struggling factories through a fund financed by banks.
The fund will take a stake in the struggling factory, and after restarting operations and generating profits, owners can reclaim their shares.
State Ownership Policy Index
For her part, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat announced that the Cabinet’s Information and Decision Support Center is developing a State Ownership Policy Index, which will be a composite indicator to monitor the state’s role in economic activity.
She added that alternatives for state withdrawal from economic activity include transferring assets to the sovereign wealth fund, full or partial divestment, redirecting activities, retaining ownership and management, or merging and restructuring.
Investment and Foreign Trade Minister Hassan El-Khatib projected that Egypt will record its lowest trade deficit level in 15 years this year, supported by fiscal and monetary policies.
All investor fees and charges will be consolidated into the Economic Entities Platform, to be launched within one to two years under the principle of “one license – one fee.”
Only five government entities will collect fees from investors and distribute them to others: the Investment Authority, Tourism Development Authority, Industrial Development Authority, Communications Regulatory Agency, and New Urban Communities Authority.
Customs clearance time has currently been reduced to 5.8 days from 14 days, according to El-Khatib, with a target of reaching just two days by the end of the current year.