The ministry said in a Tuesday press release that this performance contributed to raising the annual growth rate for the fiscal year 24/2025 to about 4.4 percent, compared to the modest growth rate recorded in 23/2024, which was about 2.4 percent, surpassing the targeted growth rate for the year estimated at about 4.2 percent.

It added that this achieved recovery confirms the resilience of the Egyptian economy in facing successive external shocks experienced during the previous period, due to the continuous pursuit of policies supporting macroeconomic stability, governance of public investment spending, and stimulating increased contribution of the private sector to the economy, driven by the government’s ongoing commitment to the reform agenda set within the framework of the national structural reform program.

According to the statement, growth during the fourth quarter and fiscal year 24/2025 was driven by the high growth witnessed in several key sectors, most notably tourism, non-oil manufacturing industries, and the telecommunications and information technology sector.

This recovery was also supported by an increase in the index of the non-oil manufacturing industry by 18.8 percent during the fourth quarter of fiscal year 24/2025, compared to the growth rate achieved during the corresponding quarter of the previous year, which was limited to only 4.7 percent, due to the expansion of several key industries such as vehicles (126 percent), pharmaceutical and medicinal products (52 percent), and ready-made garments (41 percent).

On the expenditure side, the quarter witnessed a noticeable improvement in the contribution of investment and inventory to output, which shifted from negative to positive, indicating a gradual recovery of investment momentum.

Data showed an important shift in the investment structure, with the contribution of public investments declining to 43.3 percent of total investment and inventory in fiscal year 24/2025 after being 51.2 percent in 2023/2024, while the share of private investments rose to 47.5 percent of total investment and inventory, the highest level in the last five years.

The statement explained that amid global uncertainty and geopolitical tensions witnessed in the region, activity in the Suez Canal continued to decline, albeit at a slower pace of 5.48 percent during the fourth quarter, and 52 percent during the fiscal year, affected by the geopolitical tensions in the region, which negatively impacted maritime trade movement and led to a noticeable decrease in the number of transiting ships and their cargoes.

Growth in extraction activities also continued to slow, with the oil and natural gas sectors contracting during the fourth quarter and fiscal year.

The statement pointed out that the contraction pace began to decline during the fourth quarter as some field development works resumed during the quarter.

According to the statement, the Egyptian tourism sector managed to attract more than 17 million tourists by the end of the past fiscal year, with an annual increase of 16.4 percent.