Electricity subsidies in 2019/20 budget reach LE 4B

CAIRO – 13 February 2020: Allocations for electricity subsidies in 2019/2020 budget hit LE 4 billion, according to the Ministry of Finance.

The ministry clarified in a statement Thursday that this amount will be settled with the Ministry of Electricity during the last quarter of the current fiscal year in light of the actual consumption of the beneficiaries of the categories that are eligible for support during the fiscal year.

It added that the government implemented a set of comprehensive social measures for the current fiscal year at a cost that exceeds LE 65 billion, which included increasing the minimum comprehensive wage for workers in the state, pensions, numbers of beneficiaries of the “Takaful and Karama” programs, and conducting the largest promotions process in the administrative apparatus to increase employee incomes , and increase their purchasing power.

The Finance Ministry affirmed that the first half of the current fiscal year witnessed an increase in spending on health by 20 percent, on education by 14 percent, on subsidies for food commodities by 3.3 percent, and on the health insurance program by 29.3 percent.

Additionally, an amount of LE 80 billion of insurance and pension funds was paid, reflecting the state's interest in human and social development, along with economic development, in a manner that contributes to reducing the burdens on citizens.