Egypt’s economy grew by 5.3 percent during the first quarter of the 2025-2026 fiscal year, the first time in three and a half years, thanks to improved performance in several sectors, including the Suez Canal and tourism, RT reported on Thursday.
This growth was supported by expansion in several sectors, including industry, tourism, and information and communications technology.
The Suez Canal’s activity has also recovered, registering positive growth for the first time since the second quarter of the 2023/2024 fiscal year, according to the Ministry of Planning, Economic Development, and International Cooperation.
The ministry explained that the Egyptian economy continues to achieve positive indicators which reflect the impact of economic and structural reforms aimed at supporting the economy, encouraging private sector participation, and strengthening the state’s focus on tradable, high-productivity sectors.
The ministry reported that Egypt’s GDP growth rate reached 5.3 percent in the first quarter of the 2025/2026 fiscal year, compared to 3.5 percent in the first quarter of the 2024/2025 fiscal year.
It attributed this accelerated growth to the continued implementation of economic and structural reform programs that support the economy’s shift towards higher value-added productive sectors, primarily industry, tourism, and telecommunications.
Annual growth rate to stabilize by five percent
The ministry also projected that the annual growth rate would stabilize at five percent during the current fiscal year, reflecting a significant acceleration compared to the 4.4 percent growth recorded in the previous year.
The Suez Canal recorded positive growth of approximately 8.6 percent, marking its first increase since the second quarter of the 2023/2024 fiscal year.
This follows a period of nearly 18 months of negative growth due to geopolitical tensions in the Red Sea region, which negatively impacted the number of ships transiting the canal, according to the statement.
Tourism activity also saw further growth, reaching 13.8 percent, driven by ongoing support, improved service quality and infrastructure, and successful promotional campaigns for Egyptian tourism.
These efforts attracted approximately 5.1 million tourists during the quarter, in addition to the impact of digital transformation and artificial intelligence technologies.
The .inistry anticipates an increase in tourist nights in the coming quarters, particularly with the opening of the Grand Egyptian Museum, which is expected to attract around five million visitors annually, leading to a significant rise in both visitor numbers and tourist nights.
Egypt’s economy achieves 5.3% growth for 1st time in three years Egypt Independent.
Hence then, the article about egypt s economy achieves 5 3 growth for 1st time in three years was published today ( ) and is available on EGYPT INDEPENDENT ( Egypt ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Egypt’s economy achieves 5.3% growth for 1st time in three years )
Also on site :