Madbouly highlights National Narrative for Economic Development’s goals

Updated 9/17/2025 8:18:00 AM

Arab Finance: Prime Minister Mostafa Madbouly outlined the objectives of the National Narrative for Economic Development roadmap, highlighting the government's plans to reduce debt to 80% or 81% by the end of fiscal year (FY) 2025/2026.

He noted that the government started cutting debts a year and a half ago at 96%, closing FY 2024/2025 at 85%.

As for the external debt, the state targets reducing it by between $1 billion and $2 billion annually.

Egypt targets an economic growth rate of 7% over a continuous period, not just over a single year, Madbouly noted, adding that all successful countries have experienced this.

The government also plans to make the industrial sector’s contribution to the economy at least 18% to 20%, he said, pointing out targets to increase the number of tourists to 30 million and benefit from their foreign resources.

Madbouly pointed out that the private sector currently leads the investments pumped into the Egyptian market, with no less than a 65% share, which the government has been targeting over the past period.

He also indicated plans to scale commodity and service exports to $145 billion by 2030, including exports of outsourcing services, as defined by international institutions.

Egypt also aims to reduce the overall deficit to 3.5% from the current 7%, the prime minister stated during the press conference.

These targets, along with reducing debt ratios to between 73% and 70% of gross domestic product (GDP), strengthen the state’s economic position, according to Madbouly.