Following his recent meeting with export councils, Prime Minister Mostafa Madbouly projected Egypt's non-oil exports to reach $48-50 billion by year-end—a 20% rise from 2024—while confirming the $145 billion total exports target by 2030 is achievable amid the lowest trade deficit in a decade.
At Wednesday's weekly press conference, Prime Minister Mostafa Madbouly, building on Monday's discussions with export councils, highlighted non-oil merchandise exports' projected 20% growth to $48-50 billion for 2025 after reaching about $40 billion in 2024.
He noted the government's finalization of a new investment incentives package, to be unveiled soon by President Abdel Fattah Al-Sisi, to boost competitiveness. The Suez Canal Economic Zone has drawn $13.5 billion in investments, with Qantara West poised for over $4 billion in exports soon.
On social fronts, about 29% of Egyptians live below the poverty line per official data—a slight rise from reforms—but price reductions on essentials and investor stability are priorities. Madbouly promised a 'qualitative leap' in services via development plans.
Labeling 2024 an 'exceptional year' of challenges like real estate slumps and global inflation, he cautioned against recession talk and praised Italian firm Eni's healthcare contributions as part of state-partner human development efforts.