Egypt’s Ministry of Planning 2024 Report
The Ministry of Planning, Economic Development, and International Cooperation has unveiled its 2024 Annual Report, presenting key achievements in Egypt's economic development. The report underscores the strategic merger of the Ministry of Planning and Economic Development with the Ministry of International Cooperation, aimed at streamlining investment planning and strengthening international partnerships.
Private Sector Driving Investment Growth
In the first quarter of FY2024/2025, private sector investments surged to LE 133.1 billion, constituting 63.5 percent of total investments and marking a 30 percent growth compared to the previous year. In contrast, public investments saw a significant decline, dropping by 60.5 percent to LE 57 billion, down from LE 144.4 billion in the same period of FY2023/2024.
Minister Rania Al-Mashat highlighted these developments as a reflection of Egypt's strategic goal to increase private sector investments to 50 percent of total investments by FY2024/2025. This aligns with Egypt’s Vision 2030, the State Ownership Policy Document, and the ongoing economic reform agenda, all of which prioritize the private sector as a catalyst for economic progress.
Strengthened Financing and Partnerships
The ministry’s efforts to expand concessional financing through partnerships with international institutions have paid off. Financing for the private sector increased from $2.9 billion in 2023 to $4.2 billion in 2024, supported by contributions from global entities such as the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), and the European Investment Bank (EIB). Meanwhile, concessional financing for the public sector declined from $3.8 billion to $3.1 billion over the same period.
To further encourage private sector engagement, the ministry launched an integrated financing platform in December 2023. This initiative, inspired by recommendations from the October 2022 Economic Conference, employs innovative mechanisms to boost investment flows.
FY2024/2025 Investment Plan Targets
Egypt’s investment plan for FY2024/2025 aims to mobilize nearly LE 2 trillion. Public investments account for LE 1 trillion (50.3 percent), while private investments contribute LE 987 billion (49.7 percent). A significant portion of public investments—over two-thirds—is allocated to human development sectors, representing 42.4 percent, followed by the water and sanitation sector at 25.4 percent.
Minister Al-Mashat emphasized prioritizing ongoing projects nearing completion, particularly those with progress exceeding 70 percent, while deferring new projects to manage rising public investment costs effectively.
Green Economy as a Priority
Environmental sustainability remains a cornerstone of Egypt’s development strategy. The government has increased the share of green projects to 50 percent of public investments in FY2024/2025, up from 15 percent in FY2020/2021. Notable initiatives include LE 115 billion invested in green transportation projects in FY2023/2024, such as metro network expansions and electric-powered transportation systems, aimed at reducing emissions and addressing climate change.
The NWFE (Nexus of Water, Food, and Energy) program, aligned with Egypt’s National Climate Strategy 2050, has mobilized concessional financing for clean energy projects. This framework enabled the private sector to develop renewable energy projects with a capacity of 4.2 GW, attracting significant international investment.
Renewable Energy and Infrastructure Investments
Since 2020, the ministry has secured $14.5 billion in development financing for private sector projects across various fields, including banking, logistics, and energy. To support renewable energy integration, LE 7.6 billion has been allocated for infrastructure improvements in energy transmission and distribution. The NWFE program further facilitated $3.9 billion in concessional financing for private renewable energy projects, showcasing the success of Egypt’s structural reforms in attracting investment.
A Vision for Sustainable Growth
The Ministry of Planning’s 2024 Annual Report highlights Egypt's commitment to empowering the private sector, advancing green initiatives, and fostering international partnerships. Through strategic investments, environmental sustainability efforts, and international collaboration, Egypt is positioning itself as a competitive, resilient, and sustainable economy poised for long-term growth.