Cairo: Egypt's National Narrative for Economic Development is not tied to the presence of the International Monetary Fund (IMF) but is a homegrown charter reflecting the country's priorities, Planning and Economic Development Minister Rania Al-Mashat said on Sunday. Speaking at a meeting with newspaper editors, Al-Mashat said the framework builds on Vision 2030, government programmes, and sectoral strategies, aiming to anchor growth in higher-productivity, value-added sectors with stronger export potential.

According to State Information Service Egypt, Al-Mashat emphasized the importance of controlling inflation and maintaining fiscal discipline to generate surpluses that can be redirected to health, education, and human development. She noted that macroeconomic stability is crucial for job creation and attracting investment. The FY2025/2026 development plan introduces performance-based budgeting and marks the start of rolling three-year expenditure frameworks.

Al-Mashat highlighted the government's efforts to empower the private sector through the State Ownership Policy, which outlines sectors from which the state will exit while expanding public-private partnerships to support the green transition and infrastructure projects. Regarding social spending, she mentioned that health sector allocations had risen significantly, fully covering infrastructure upgrades and the rollout of universal health insurance.

Additionally, Al-Mashat pointed out Egypt's role as a hub for concessional financing, having secured $16 billion from development partners since 2020. This includes an EU-backed pound 1.8 billion guarantee that mobilized pound 5 billion in investment. She concluded by stating that macroeconomic stability, reducing deficits, and ensuring debt sustainability are essential for unlocking the real economy.