IMF Forecasts Egypt’s Economic Growth to Reach 5.6% by 2029

Egypt’s economy is expected to grow at an annual rate of 5.6% by the 2028/2029 fiscal year, according to the latest forecast from the International Monetary Fund (IMF). The projection comes amid signs of recovery and stabilisation following years of economic turbulence fuelled by inflation, currency devaluation, and global shocks.

The IMF’s outlook reflects growing international confidence in Egypt’s economic reform agenda, which has centred on liberalising markets, strengthening the private sector, and creating a more attractive investment climate. The Fund highlighted that sectors such as renewable energy, infrastructure development, logistics, and information technology are likely to drive long-term economic expansion.

The projection comes in tandem with discussions over increasing Egypt’s quota at the IMF, a move that would raise the country’s voting power, expand access to financial resources, and deepen technical cooperation. If approved, the quota expansion would also enhance Egypt’s borrowing capacity during times of external pressure.

Since signing its first Extended Fund Facility with the IMF in 2016, Egypt has rolled out a broad range of structural reforms, including subsidy reductions, improvements in tax policy, and measures to strengthen the financial sector.

According to IMF data, Egypt’s growth is projected to recover gradually in the coming years, with a focus on enhancing domestic production, encouraging exports, and boosting foreign direct investment. The projection also aligns with Egypt’s long-term development strategy, Vision 2030, which aims to position the country as a regional economic hub.