FILE - Minister of Finance Mohamed Ma'it FILE - Minister of Finance Mohamed Ma'it

Total expenditure exceeded LE621B in 1st half of FY 2019/2020

By: MENA
Tue, Jan. 21, 2020
CAIRO - 21 January 2020: Total public expenditure amounted to LE 621.7 billion during the first half of the current fiscal year, compared to LE 350 billion for the same period in the FY 2015/2016, Finance Minister Mohamed Maait said.

During a conference held Monday to review financial performance during the July–December period, Maait attributed the remarkable surge in total expenditures to an increase in overall public spending on wages and workers' compensation, which registered LE 147 billion compared to LE 105.6 billion for the same period in the FY 2015/2016.

Government spending on public investments has also increased from LE 71.4 billion to LE 75.6 billion, the minister added.

He further explained that government spending on procurement of goods and services more than doubled, registering LE 30.5 billion by the end the above-mentioned period compared to LE 13 billion for the same period during the FY 2015/2016.
 
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