Dr. Ahmed Rostom, the Egyptian Minister of Planning and Economic Development, announced targets for economic growth between 5.2% and 5.4% for the upcoming fiscal year. This projection comes after achieving a growth rate of 5.3% in the first half of the current fiscal year, highlighting the effectiveness of ongoing economic reforms.
Focus on Economic Reform and Growth
The announcement was made during the Oxford Africa Conference 2026, where Rostom engaged with representatives from major international financial institutions and the private sector. The conference, held at the University of Oxford in the United Kingdom, focused on “Repositioning Africa: Leadership in an Age of Disruption.”
Meetings and Key Participants
During his visit, Minister Rostom held discussions with several financial leaders:
- Saif Malik, CEO of Standard Chartered Bank
- Chris Chijiutomi, Managing Director at British International Investment (BII)
- Patrick Brang, HSBC’s Head of Infrastructure Finance for Europe and the Americas
- Hamish Patel, Head of the Public Sector at HSBC
- Fumik Noor Shah, Head of Origination at UK Export Finance
He was accompanied by Egypt’s Ambassador to London, Ashraf Sweilam, and Wael Abdel Rahim, Minister Plenipotentiary for Trade and Head of the Egyptian Commercial Office in London.
Economic Performance Review
Rostom emphasized the resilience of the Egyptian economy amidst regional and international challenges. He detailed the positive impacts of the government’s economic reforms on the real sectors of the economy. The development plan for fiscal year 2026/2027 focuses on increasing the contribution of various sectors to economic growth, which is expected to reach between 5.2% and 5.4%.
Projected Contributions from Key Sectors
The minister outlined that five sectors are anticipated to contribute significantly to the targeted growth:
- Manufacturing Industries: 29%
- Wholesale and Retail Trade: 11.3%
- Tourism: 9.3%
- Construction: 7.2%
- Agriculture: 7%
These sectors are expected to account for 64% of the economic growth aimed for in fiscal year 2026/2027. Rostom concluded that the improvements in current growth rates testify to the positive effects of reform decisions on Egypt’s productive and service sectors.
