Egypt’s innovation drive targets higher-value manufacturing, stronger local brands and greater competitiveness in global markets.
Madbouly also said Egypt’s economy recorded 5% growth in the third quarter of the current fiscal year, exceeding the government’s previous estimate of 4.8% despite regional geopolitical tensions.
For the next fiscal year, the IMF also lowered its forecast for Egypt’s growth to 4.8%, compared to 5.4% in its previous estimates.
This performance, according to a statement from the Ministry of Planning, Economic Development, and International Cooperation, represents the highest quarterly growth rate recorded by the Egyptian economy in the past three years.
Egypt accelerates customs reforms to lower costs, speed up clearance, and attract investment, says Finance Minister Kouchouk.
