The ministry explained that these positive results reflect the impact of “structural economic reforms” that aim to strengthen the real economy, encourage the role of the “private sector,” and support productive sectors that add value.
The growth rate increased from 3.5% in the same period of the previous fiscal year to 5.3%. This improvement is attributed to the continuation of “reform programs” that contributed to directing the economy towards more productive sectors. The ministry expects annual growth to stabilize at 5% by the end of this year, after it was 4.4% last year.
The “Suez Canal” activity witnessed positive growth of 8.6%, after a long period of decline due to tensions in the “Red Sea” that affected navigation. The “tourism sector” also achieved strong growth of 13.8% thanks to improved services, infrastructure, and promotion campaigns, which led to the reception of 5.1 million tourists during the quarter.
The ministry expects a continued increase in “tourist nights” during the coming quarters, especially with the opening of the “Grand Egyptian Museum,” which is expected to attract about 5 million visitors annually, which will further revitalize tourism.
