Egypt projects 4% growth in 2025 amid strong economic reforms

Egypt projects 4% growth in 2025 amid strong economic reforms
Session titled “The Regional Economic Outlook of 2025,” (AN photos)
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Egypt projects 4% growth in 2025 amid strong economic reforms

Egypt projects 4% growth in 2025 amid strong economic reforms
  • Results of fiscal discipline, says economy minister Rania Al-Mashat
  • Increased capital inflows, foreign direct investment being recorded

DUBAI: Egypt is likely to record 4 percent growth at the end of 2025, the nation’s Planning and Economic Development Minister Rania Al-Mashat said at the World Governments Summit on Wednesday.

In a session titled “The Regional Economic Outlook of 2025,” Al-Mashat, presented an optimistic view of Egypt’s trajectory amid global challenges.

Panelists during the session addressed disruptions Egypt has faced, notably the 70 percent decline in Suez Canal revenues.

In addition, they highlighted geopolitical tensions stemming from President Donald Trump’s recent threats to displace Palestinians to Egypt and Jordan.

Despite these challenges, Al-Mashat emphasized Egypt’s resilience and strategic economic measures.

“At the outset, macroeconomic stability is a necessary condition for growth and private sector engagement,” she said.

She detailed Egypt’s home-grown program with the International Monetary Fund since March 2024, focusing on fiscal consolidation, reducing domestic debt, stringent public investment discipline, and tighter monetary policy to control inflation.

These measures have restored macroeconomic stability, leading to increased capital inflows and foreign direct investment.

Al-Mashat reported 3.2 percent growth in the first quarter of the 2024/2025 fiscal year, with notable performance in the manufacturing sector, signifying stronger integration with global value chains.

However, she stressed that macroeconomic stability alone was insufficient without structural reforms aimed at increasing competitiveness, private sector involvement, and promoting the green transition.

Egypt has attracted nearly $4 billion in renewable energy investments over the past year, positioning itself as a regional energy hub.

“Agility and resilience are key,” she noted, projecting a 4 percent growth rate by year-end, despite global headwinds such as inflationary pressures and monetary policy shifts.

Al-Mashat concluded by emphasizing Egypt’s proactive stance in financing for development, including domestic resource mobilization, debt swaps, and concessional finance for the green transition, all vital for Egypt’s economic future.


‘We are gearing towards becoming a multiplanetary species,’ says UAE space director

‘We are gearing towards becoming a multiplanetary species,’ says UAE space director
Updated 5 sec ago
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‘We are gearing towards becoming a multiplanetary species,’ says UAE space director

‘We are gearing towards becoming a multiplanetary species,’ says UAE space director

DUBAI: All the UAE’s space projects are gearing toward humanity becoming a multiplanetary species, Salem Al-Marri, director-general of the Mohammed bin Rashid Space Center, told the World Governments Summit on Wednesday.

Speaking to Arab News, Al-Marri discussed the UAE’s partnership with the Saudi space mission. 

“Having our (Saudi Arabia and the UAE) astronauts in space at the same time is the first time we had that many Arabs in space at one time,” he said.

Al-Marri said he hoped to have the two countries work together more extensively and share resources to further develop the Arab space industry.

“We’d love to have our astronauts visit Saudi along with the Saudi astronauts, Rayyanah Barnawi and Ali Al-Qarni, have some joint outreach activities and really take it from there. I think also from the research perspective, the data, the outreach, we are now working on different projects that we will announce soon,” he added.

But Al-Marri jokingly revealed that he, personally, was not ready to relocate to Mars, even if the opportunity were to come up tomorrow.

“Not in my lifetime, no. If there’s a return ticket then yes, if it’s a visit for a couple of years and coming back, I would do that. But I think within the next decade we would see some sort of human presence on Mars for a quick type of mission,” he said.

“The global exploration roadmap is moving towards trying to get a permanent presence on the moon and around the moon, and then using that to go to Mars,” he said. 

In a panel discussion with Salem Butti Al-Qubaisi, director-general of the UAE Space Agency, the directors discussed UAE’s space missions and progress since the UAE space mission to Mars was announced in 2014.

“We see a big benefit of having these astronauts sent into space, performing hundreds of experiments, which benefit us here on the ground,” Al-Marri said.

When asked if the UAE’s scarcity of water in any way limited the space mission, both directors said it served as motivation for the project to go further.

“One of the main objectives of the space mission is to help understand water. We can see if there are other sources of water available. If we are planning to go deeper into space we must ensure that there are adequate resources out there,” Al-Qubaisi said.

Al-Marri said MBRSC’s goal and motivation was to see an Emirati on the moon in the next 10 years.

The UAE Astronaut Program was launched in 2017 by Sheikh Mohammed bin Rashid Al-Maktoum, the vice president and prime minister of the UAE, and Sheikh Mohamed bin Zayed Al-Nahyan, who was deputy supreme commander of the UAE Armed Forces at the time and is now the UAE president.

Sultan Al-Neyadi was the first Emarati and Arab astronaut to undertake a long-term space mission and the first to complete a spacewalk.

Al-Neyadi, together with NASA astronauts Stephen Bowen and Woody Hoburg and Roscosmos cosmonaut Andrey Fedyaev, were part of NASA’s SpaceX Crew-6 that lifted off on March 2, 2023 from the Kennedy Space Center in Florida.

The crew conducted more than 200 science experiments and technology demonstrations during their stay at the space station and returned to earth on Sept. 4, 2023.

 


Hamas says group’s delegation in Cairo for talks on Gaza ceasefire

Hamas says group’s delegation in Cairo for talks on Gaza ceasefire
Updated 5 min 48 sec ago
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Hamas says group’s delegation in Cairo for talks on Gaza ceasefire

Hamas says group’s delegation in Cairo for talks on Gaza ceasefire

GAZA: Hamas said on Wednesday a delegation headed by its chief negotiator had arrived in Cairo for Gaza truce talks, which a group official said were aimed at ending the “current crisis” in implementing the ceasefire.
“A delegation headed by Khalil Al-Hayya, head of the Hamas movement in the Gaza Strip, arrived in Cairo and began meetings with Egyptian officials, and followed up on the implementation of the ceasefire agreement,” Hamas said in a statement. An official told AFP the delegation “will discuss ways to end the current crisis and ensure the occupation’s commitment to implementing the agreement.”


Trump pressure on Gazans and regional powers might lead to grave conflicts, says Arab League chief

Trump pressure on Gazans and regional powers might lead to grave conflicts, says Arab League chief
Updated 32 min 42 sec ago
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Trump pressure on Gazans and regional powers might lead to grave conflicts, says Arab League chief

Trump pressure on Gazans and regional powers might lead to grave conflicts, says Arab League chief
  • Aboul Gheit emphasized that the Palestinian state must be recognized
  • Aboul Gheit said that there had been no Arab defeat, but rather that there had been progress and readiness for any cooperation to coexist between the Palestinians and Israelis within one space

DUBAI: The Arab League’s secretary-general on Wednesday warned that if US President Donald Trump continued to pressure Gazans and regionally influential powers, this “might lead the region to a new round of grave conflicts.”

“In my opinion, I see that (happening) if President Trump continues in this manner to pressure Gazans, the Arab world, Egyptians, Jordanians, and the region’s influential powers,” said Arab League Secretary-General Ahmed Aboul Gheit.

“I imagine that instead of settling the Palestinian cause, justly and based on the two-state solution, this might lead the region (the Middle East) to a new round of grave conflicts between Arabs and Israel,” Aboul Gheit told the World Government Summit on Wednesday.

Addressing a packed auditorium during a session titled “The State of the Arab World,” the secretary-general said that “any plans to evacuate the Palestinian territories of their residents” must be rejected, and pointed out that “an acceptable settlement” must be achieved between the two parties.

Alongside Aboul Gheit was Jasem Al-Budaiwi, who is secretary-general of the General Secretariat of the Gulf Cooperation Council, in a session moderated by the Egyptian journalist and businessman Imad Eddine Adib.

Aboul Gheit emphasized that the Palestinian state must be recognized and the “Palestinians must be given their rights.”

He said the US suggestions were unacceptable to Arabs, and in particular Palestinians, warning against the repercussions of US policy on the paths of “peace and understanding” in the region.

After a question by Adib on Trump’s statement on Tuesday, the Arab League head replied: “Right at the moment, the problem as I see it, is that the American vision is an ambiguous one … in the sense that it envisions settling the Middle East conflict through finishing the Palestinian existence, Palestinian character and Palestinian identity in Gaza.

“This is not a settlement (of the conflict) but is rather transferring the conflict to a phase that exceeds Gaza and Israel, making it reach the global level.”

Aboul Gheit added: “If you wish to send the Palestinians to Canada or Argentina, they will fight (for their cause) from there … they will fight from Canada and Argentina. We must understand this … it (Palestine) is their land.”

The senior Egyptian diplomat hopes that a cycle of new conflicts does not occur because it will have negative effects on stability and on everything that “we have built in the region over the period from 1978 (Camp David) and the Egyptian-Israeli understanding until this moment.”

Aboul Gheit said that there had been no Arab defeat, but rather that there had been progress and readiness for any cooperation to coexist between the Palestinians and Israelis within one space.

“On the Palestinian issue, it is not necessary to implement President Trump’s words on the ground. The words are ‘give and take’ and we must complete our efforts with the two-state solution initiative,” Al-Budaiwi said.

During the session, the Arab League’s secretary-general hinted at the differences between the Fatah Movement and Hamas, saying the Palestinian people were in dire need, and the people who are most in need of an Arabic-Arabic and Palestinian-Palestinian agreement and accord.

Meanwhile, the GCC’s secretary-general said that there were clear constants regarding the Palestinian cause, at the forefront of which is the right of the Palestinian people to self-determination and the return of refugees.

“We in the Cooperation Council work within this framework,” he said.

Al-Budaiwi said the US realized the importance of security and stability in the region, and “we have strategic alliances with the US,” noting that the stance of the  GCC countries does not change, and always stem from the importance of implementing international legitimacy.

“We are optimistic and deal with matters with deliberation and wisdom, and we seek a unified Arab position that aims to obtain the rights of the Palestinian people,” he concluded.

 


Syria to have new government on March 1: foreign minister

Syria to have new government on March 1: foreign minister
Updated 12 February 2025
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Syria to have new government on March 1: foreign minister

Syria to have new government on March 1: foreign minister
  • Ahmed Al-Sharaa, leader of the Islamist Hayat Tahrir Al-Sham group that led the offensive that overthrew Bashar Assad, was appointed interim president

DUBAI: Syrian Arab Republic will have a new government next month, Foreign Minister Asaad Al-Shaibani said on Wednesday, with interim authorities having ruled the country after the overthrown of Bashar Assad.
“The government that will be launched March 1 will represent the Syrian people as much as possible and take its diversity into account,” Shaibani said on the sidelines of the World Governments Summit in the United Arab Emirates.
The Islamist-led militants that seized power installed an interim government headed by Mohammad Al-Bashir to steer the multi-ethnic, multi-confessional country until March 1.
Last month, Ahmed Al-Sharaa, leader of the Islamist Hayat Tahrir Al-Sham group (HTS) that led the offensive that overthrew Assad, was appointed interim president.
He was tasked with forming a transitional legislature with the Assad-era parliament dissolved, along with the Baath party which ruled Syria for decades.
HTS and other factions have themselves been dissolved, with their fighters to be integrated into a future national force.
In an interview earlier this month, Sharaa said that organizing elections could take up to five years.
The new authorities have pledged to hold a national dialogue conference involving all Syrians, but have yet to set a date.


Governments need centralized AI centers with accurate data for better public services, say business leaders

Governments need centralized AI centers with accurate data for better public services, say business leaders
Updated 12 February 2025
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Governments need centralized AI centers with accurate data for better public services, say business leaders

Governments need centralized AI centers with accurate data for better public services, say business leaders
  • Unified data vital, says Larry Ellisson at World Governments Summit
  • AstraZeneka’s Pascal Soriot warns of dangers of ‘data fragmentation’

DUBAI: Governments need to feed artificial intelligence models accurate data  —stored in secure, centralized centers — so that better solutions can be found to improve public services, said Oracle co-founder Larry Ellison at the World Governments Summit here on Wednesday.

AI, if harnessed correctly, would fundamentally change several industries including medicine, agriculture and robotics, said Ellison during a discussion on governance featuring former UK Prime Minister Tony Blair.

This was a view later echoed by AstraZeneka’s CEO Pascal Soriot, who warned against the inefficiencies of fragmented information which placed hurdles in the way of effective healthcare.

Soriot warned of the problems of what he called data fragmentation, where information is not held in a centralized environment.

“While AI is transformative, data fragmentation remains a hurdle. The healthcare industry needs time to adapt, but the potential is undeniable.”

In Ellison’s session, titled “Reimagining Technology for Government: A conversation with Larry Ellison and Tony Blair,” the Oracle co-founder said the scope to improve governance, especially in areas such as health, has improved significantly.

Oracle is a US-based tech company known for its database management system used by organizations across the globe.

“Countries need to unify their data so it can be consumed and used by the AI model. We must feed the AI model as much data about a country as possible,” Ellison said.

A single unified platform was proposed by Ellison to give AI models all the context and information needed to provide accurate responses and maximize its usage.

Ellison said government data was currently fragmented and once this information was unified, it was vital to store it securely. “These data centers need to be secure in our countries for privacy and security reasons,” he added.

Improving AI models would, for example, lower healthcare costs as diagnosis would be much faster, he explained. AI could also help maximize crop yields to improve food security for the planet.

“The UAE has a treasure of data that can improve quality of life and lifespan by preparing healthcare data and using these AI models to improve quality of life,” he added.

He added that Oracle would no longer require users to access platforms with passwords but would implement biometric scans and AI technology.

“The digital tools we have right now are so primitive. We can easily be locked out of all our data; passwords and data are so easily stolen and ransomed. We need to modernize our systems,” he said.

In the later session on the global health sector, AstraZeneca’s Soriot said there were two factors contributing to the current surge in preventable conditions.

“Self-inflicted diseases are a growing crisis in the health industry,” he said, identifying climate change and obesity as the leading culprits.

“Air pollution, increasing temperatures, and climate change are not just abstract threats; they are silent killers,” Soriot warned.

He elaborated on the impact of microplastics, pollutants, and toxic emissions, which have been linked to rising cases of heart attacks, cancers, and kidney and liver diseases worldwide.

Soriot pointed to obesity as another critical factor.

“This self-inflicted condition triggers chronic low-level inflammation, paving the way for kidney disease, heart disease, diabetes, and various forms of cancer,” he said.

He expressed frustration over the minimal investment in preventive healthcare. “Governments allocate only 3 percent of their healthcare budgets to prevention and early diagnosis.”

But he said this could be tackled with the use of technology. “Artificial Intelligence is revolutionizing healthcare, enabling early diagnosis where traditional methods fall short.”

AI’s capabilities in detecting early signs of lung cancer and kidney issues could extend lives significantly, he added.

In his closing remarks Soriot said: “The future of healthcare hinges on our ability to prevent rather than just treat.

“We must prioritize early intervention, leverage technology, and rethink our approach to health. Only then can we hope to reverse this silent crisis.”