Prime Minister Mostafa Madbouly recently presented Egypt’s ambitious three-year economic plan to the House of Representatives. This pivotal moment for the newly inaugurated government at the New Administrative Capital revolves around the theme “Together We Build a Sustainable Future.” The comprehensive agenda aims to realize Egypt’s Vision 2030, with a strong focus on sustainable growth and development.
Madbouly emphasized the government’s commitment to achieving an initial growth rate of 4.2% in the first year, followed by sustained growth exceeding 5% annually. The plan integrates insights from national dialogue sessions and strategic reforms, targeting key sectors such as infrastructure, energy, industry, and social welfare.
“We stand united in our mission to continue building our nation and fulfilling the aspirations of our people,” affirmed Madbouly, highlighting the plan’s focus on enhancing citizens’ quality of life and advancing sustainable development goals.
Acknowledging challenges, Madbouly addressed Egypt’s complex economic landscape, exacerbated by global factors including the economic fallout from the Russia-Ukraine conflict. He underscored efforts to mitigate inflation and supply chain disruptions affecting Egypt’s economy.
The Prime Minister also addressed regional conflicts, reiterating Egypt’s role in promoting regional peace amidst recent escalations. He condemned violence in Gaza and the West Bank, emphasizing efforts to stabilize Suez Canal revenues and regional trade.
Madbouly reaffirmed the government’s commitment to navigating challenges while prioritizing national development goals. As Egypt pursues sustainable growth, he stressed collaboration with stakeholders to achieve prosperity and stability.
Government of Challenges: Madbouly Outlines Strategic Priorities
Madbouly outlined the strategic priorities of Egypt’s newly formed government during his parliamentary address. These priorities focus on addressing national security, cultural enhancement, and economic stability.
Madbouly emphasized the government’s commitment to enhancing essential services such as healthcare and education. Simultaneously, economic reforms aim to curb inflation and foster growth, with efforts to improve living standards and alleviate economic pressures.
Reporting progress in economic stabilization, Madbouly noted a significant reduction in inflation rates from 39.7% in August 2023 to 27.4% in May 2024. Further economic resilience is planned through agricultural expansion and digital transformation initiatives, modernizing markets and public services.
“We are committed to addressing citizens’ concerns and reducing their hardships,” affirmed Madbouly, emphasizing plans to enhance public services and infrastructure across Egypt.
The government’s program, titled “Together We Build a Sustainable Future” for 2024/2025–2026/2027, aims to strengthen national security, promote economic competitiveness, and foster political stability. Initiatives include expanding diplomatic engagements and regional partnerships to enhance Egypt’s global influence.
Madbouly highlighted efforts to empower youth and women economically and socially, aligning educational outcomes with market demands. Urban development projects and economic policies to attract investments and stimulate growth were also outlined.
The government’s economic reform agenda targets sustainable growth, with plans to increase private sector participation and enhance fiscal discipline. Madbouly detailed strategies to boost employment and expand green investments, positioning Egypt as a hub for sustainable development.
Prioritising National Security and International Partnerships
Madbouly unveiled Egypt’s ambitious government programme, focusing on strengthening national security and expanding international alliances to support economic growth and development.
In his parliamentary address, Madbouly highlighted the government’s commitment to securing Egypt’s water, food, energy, and cyber security. Efforts include enhancing bilateral cooperation with Nile Basin countries and boosting regional stability through diplomatic initiatives.
The government aims to increase agricultural productivity, diversify energy sources, and improve infrastructure to foster economic resilience. Madbouly outlined plans to attract foreign investments in manufacturing and technology sectors, alongside promoting tourism and enhancing logistics capabilities.
Strategic partnerships with global leaders are pivotal in advancing Egypt’s economic agenda, aimed at sustainable growth and regional stability amidst global challenges.
Governance, Unity, and National Cohesion
Madbouly underscored the government’s commitment to civil democratic principles, equality, social justice, and human rights. Adapting state institutions to societal changes and addressing internal and external challenges are essential to safeguarding Egypt’s stability.
The government aims to enhance political participation and governance by empowering local communities and expediting laws governing local councils. Participatory planning committees will engage citizens in project management, building on insights from successful initiatives like Decent Life.
Efforts to enhance political communication across Egyptian society include regular dialogues with civil society, unions, political parties, youth, women, and marginalised communities. Transparency in government policies and decisions is crucial for fostering trust and national cohesion.
Madbouly concluded with optimism, urging unity in building a prosperous future. He reiterated the government’s commitment to achieving ambitious goals, prioritising national prosperity and citizen well-being. With collective dedication, Egypt aims to enter a new era of progress and prosperity.
