CAIRO, Nov. 27 (Xinhua) -- Egypt's gross domestic product (GDP) grew by 5.3 percent in the first quarter of fiscal year 2025/2026, up from 3.5 percent in the same period a year earlier, the country's Ministry of Planning, Economic Development, and International Cooperation said in a statement on Thursday.
Rania Al-Mashat, the minister, attributed the increase to the government's ongoing economic and structural reform measures and improving productive sectors.
Private sector investments recorded a sharp rise of 25.9 percent in Q1, representing 66 percent of total investments, and the Suez Canal has emerged from its recent contraction phase, posting growth of 8.6 percent, she added.
Al-Mashat said Egypt is targeting economic growth of around 5 percent for the fiscal year ending in June 2026, revising the previous target of 4.5 percent upward.
The fiscal year in Egypt starts in July.
