Egypt cabinet economic cluster: Key objectives pledged before parliament

A report issued by the parliamentary committee discussing the government’s programme, issued on Tuesday, highlighted that the economic cluster had emphasized in its address to the parliament the significance of the private sector and its role in ensuring stability.

The government’s tendency to support the private sector also aligns with Egypt’s engagement in the ongoing $8 billion loan programme with the IMF.

According to the parliamentary committee's report, the economic cluster’s main objectives can be summed up as follows:

Planning, Economic Development, and International Cooperation Portfolio
 

Rania Al-Mashat, who became the Minister of both Planning and Economic Development and International Cooperation, after the two ministries were merged following a cabinet overhaul, stated that her ministry would pursue the following goals:

• Ensuring governance of investment expenditure and the implementation of the public investment ceiling determined by the Council of Ministers, amounting to one trillion Egyptian pounds for the fiscal year 2024-2025.


• Supporting efforts to reduce inflation rates and enhance partnerships with multilateral development partners.


• Increasing investment in human capital, focusing on health, education, and social protection sectors.


• Allowing the private sector to lead the development journey.

Finance Portfolio
 

Ahmed Kouchouk, Minister of Finance and spokesperson for the economic group, confirmed that his ministry will work on the following:

• Achieving economic stability, resilience, and green transformation.


• Providing further support for social protection and improving the living standards of citizens.


• Initiating specific initiatives for the business community to increase the competitiveness of the Egyptian economy.


• Working on providing job opportunities.

Ministry of Investment and Foreign Portfolio
 

Hassan ElKhatib, Minister of Investment and Foreign Trade, stated that as minister he will focus on the following:

• Creating an attractive business environment for local and foreign investment.


• Supporting small and medium-sized enterprises.


• Facilitating procedures and implementing state ownership policies that support the increased role of the private sector in economic development.