Egypt’s President Abdel Fatah al-Sisi delivers a speech before parliament – press photo Egypt’s President Abdel Fatah al-Sisi delivers a speech before parliament – press photo

Sisi approves LE 70.3 bln additional funding for current FY budget

By: MENA
Thu, Jun. 28, 2018
CAIRO - 28 June 2018: President Abdel Fatah al-Sisi issued on Thursday decree no. 152/2018 on providing LE 70.3 billion additional funding to the state budget for current fiscal year 2017-2018 after a relevant bill was approved by the House of Representatives.

The additional appropriation of LE 70.3 billion will be distributed as follows:

- A sum of LE 57 billion will be allotted to coping with the interest rate hikes of the domestic and external debt.

- A total of LE 2.3 billion will be dedicated to compensations for North Sinai residents and paying some outstanding contributions to international institutions and bodies.

- About LE 6 billion will be allotted to covering the state's contribution to raising the Central Bank of Egypt’s capital.

- Some LE 5 billion will be allocated to settling public debt installments; Arab states' deposits and the amortization of premium on some bonds.

The decree was published in the official gazette.
 
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