Egypt’s general budget passes 1 trillion EGP

CAIRO – 7 March 2017: The Egyptian general budget for the fiscal year 2016/2017 surpassed 1 trillion EGP for the first time, compared to EGP 975 billion for the current fiscal year, Al-Ahram reported.

The Ministry of Finance is working on the State’s general budget for the fiscal year 2016/2017, and the government will have a final draft by the end of the week which will be discussed in the coming cabinet meeting, Prime Minister Sherif Ismail told reporters Sunday.

Ismail added that the government will discuss the consumer protection law, medical insurance law, and other laws this week, in addition to the price of wheat.

Deputy Minister of Finance for Treasury Mohamed Maait attributed the budget increase to applying the constitutional allocations to education, health, and scientific research, and the impact of the EGP’s flotation on oil and other commodities that are primarily imported, according to Al- Ahram.