PM Madbouly Unveils Egypt's Ambitious Economic Growth and Public Service Agenda at Egypt Forum 2026

CAIRO, Oct 24 (MENA) – Prime Minister Mostafa Madbouly has detailed the government's strategic plans aimed at elevating living standards, expanding employment opportunities, and bolstering public services during the Egypt Forum 2026. The prominent six-day forum, which concluded on October 24 and was held under the patronage of President Abdel Fattah al-Sisi, convened government officials, experts, and citizens under the theme “A Look at Today, a Vision for Tomorrow” to deliberate on pressing economic challenges, ongoing development projects, and their tangible impact on daily life.

During the forum, Prime Minister Madbouly directly addressed public concerns spanning education, housing, social protection, energy pricing, and economic reform. He elaborated on the government's fiscal priorities and its strategies for increasing household incomes. Madbouly emphasized that education remains a cornerstone of government policy, with ongoing initiatives focused on reducing classroom sizes, alleviating teacher shortages, and enhancing pedagogical standards. He also highlighted reforms in secondary education, including the implementation of the baccalaureate system designed to offer students enhanced pathways to improve their examination outcomes.

Regarding urban development, Madbouly presented Egypt's national plan extending to 2052, which encompasses the development of 39 new cities, with 27 already completed or in progress. He estimated that approximately 14 to 15 million individuals currently reside in these new urban centers, underscoring the projects' dual objectives of alleviating pressure on congested metropolitan areas and generating employment. The Prime Minister further reported that since 2014, the government has overseen the construction of over two million housing units and the redevelopment of unsafe residential areas that previously housed more than 350,000 families. The initial phase of the 'Decent Life' rural development initiative has reached 1,477 villages, with investments surpassing LE450 billion. Additionally, the government is finalizing housing programs that will include rental units, social housing options, and homes tailored for middle-income families, with deliveries anticipated over the next four years.

Addressing the escalating cost of living, Madbouly reaffirmed the government's commitment to safeguarding vulnerable households and optimizing subsidy distribution. He noted that approximately 4.7 million families currently benefit from the Takaful and Karama program, which has supported around 8.2 million families since its inception. Figures presented by the Prime Minister revealed a significant increase in food and bread subsidy allocations, rising from LE 32.8 billion in the 2013/2014 fiscal year to approximately LE 178 billion in the current year.

Madbouly also discussed the government's strategic response to elevated global energy prices, explaining that the state has opted to absorb additional costs rather than fully transfer the burden to consumers. He clarified that prior statements regarding potential electricity rationing pertained to hypothetical scenarios and were not indicative of planned power outages. Egypt is actively accelerating its renewable energy initiatives, targeting a 45 percent share in the energy mix by 2028 and 50 percent by 2030. The Prime Minister estimated that upgrading electricity infrastructure to meet the 2028 target would necessitate investments of approximately LE 200 billion.

The Prime Minister outlined the primary objectives of Egypt's proposed national economic transformation program for 2027–2030. This program aims to stimulate production, enhance private sector involvement, and foster job creation. Key targets include achieving economic growth of 6.8 percent by the 2029/2030 fiscal year, an increase from the current 5.1 percent. The program also seeks to reduce inflation from 13.3 percent to a range of 5 percent to 7 percent, lower unemployment from 5.8 percent to 5.5 percent, and boost total investment from 12.7 percent to 20 percent of gross domestic product. Furthermore, the government intends to increase the private sector's share of investment from 57.7 percent to 67 percent and augment tax revenues by broadening the tax base, rather than introducing new taxes. Madbouly indicated that the program would incorporate measures to improve wages, raise personal income tax exemptions, and expand access to essential services like healthcare, education, and housing.

He reported a significant rise in Egypt's foreign currency reserves, reaching $57.3 billion by the close of September 2026, a substantial increase from approximately $16.7 billion in the 2013/2014 fiscal year. However, he acknowledged that high debt-servicing costs, persistent inflation, population growth, and pressure on household purchasing power remain considerable economic challenges. The Prime Minister announced that the national economic transformation program would be subject to public consultations prior to its anticipated finalization at the end of December.

In a session dedicated to entrepreneurship, Madbouly revealed plans to establish a dedicated unit within the Cabinet to champion startups and streamline government support for entrepreneurs. This proposed unit would facilitate access to funding, provide crucial support, and assist emerging businesses in expanding into regional and international markets. Madbouly stressed the vital role of strengthening entrepreneurship and private investment in generating employment and driving economic growth.

Throughout the forum's discussions, the Prime Minister consistently maintained that the government's development strategies must yield measurable improvements in citizens' lives, encompassing enhanced education, accessible housing, strengthened purchasing power, and expanded employment prospects. He concluded by stating that future economic policies will aim to strike a balance between long-term development goals and the immediate needs of Egyptian households, while prioritizing resource allocation towards essential services and social protection.