Finance Ministry: LE 5.7B allocated for social housing program in new budget

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Wed, 03 Jun 2020 - 11:20 GMT

Rawdat al-Sayeda housing units - File

Rawdat al-Sayeda housing units - File

CAIRO - 3 June 2020: Allocations for the social housing program in the new state budget for fiscal year 2020/2021 have hit about LE 5.7 billion, up from LE 3.9 billion allocated in fiscal 2019/2020 with an increase estimated at 1.8 billion.

These allocations represent the costs borne by the state to support the low-income strata who are benefiting form the social housing program.

This program targets supporting 120,000 housing units, the ministry said in the financial statement of the state’s general budget for fiscal year 2002/2021 on Tuesday.

Allocation for the interests of soft loans in the budget of the coming fiscal year amounted to about LE 360 million, with a decrease of LE 40 million allocated in fiscal year 2019/2020.

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