The Egyptian Minister of Finance, Dr. Mohamed Maait, stated on 17 April that Egypt aims to empower the private sector to constitute 70 percent of Egypt’s gross domestic product (GDP), with a focus on increasing domestic production and exports. During a panel discussion in the event, “Governor Talks – Egypt: Lessons in Restoring Macroeconomic Stability” of the International Monetary Fund (IMF) and World Bank spring meetings held at Washington, DC, Maait announced, “We are implementing a comprehensive and integrated economic reform agenda that puts us on the right track.” Egypt plans to empower the private sector to become a prominent part of Egypt’s economy and hold a share ranging between 65 to 70 percent of the market. By prioritizing local production, promoting exporting, and offering opportunities for private businesses, the government will help the private sector flourish. Maait explained that through a new wave of integrated structural reforms, Egypt’s ability to achieve stability and economic progress will be enhanced, highlighting the importance of Ras Al-Hekma deal, which reflects the capability of the Egyptian economy to attract more investment inflows. He emphasized the government’s aim to sell additional state-owned assets, which…
Egypt Aims to Empower the Private Sector to Capture Over 70% of the Market
April 17, 2024
