Egypt Plans New Funds and Targets Higher Growth

Egypt's government announced plans for two new funds to support investment and industry, and the Planning Minister said the country is targeting real GDP growth of 5.2% to 5.4% in fiscal year 2027/2028. Prime Minister Madbouly inspected Cairo greening projects, saying the effort aims to raise green space per capita. Other economic news included the Egyptian pound trading below 52 per dollar as about $1.4 billion returned to debt instruments, and a labour union warning that non-compliance with the minimum wage can bring fines of up to 20,000 Egyptian pounds. Egypt is also reviewing the production cost of tourist and fino bread.