Monetary Subsidies
Minister of Social Solidarity Nevine al-Qabaj highlighted Tuesday that Egypt's expenditure on social care, protection and development rose to 9.5 percent of the GDP in 2022.
The Ministry of Social Solidarity signed Monday contracts with 10 NGOs to contribute to the creation of 50,000 job opportunities.
That was during her participation at the ceremony held to launch a World Bank report on Egyptian demographics.
The economic empowerment initiative is within "Forsa" (opportunity) programme aimed at enabling self-employment among the beneficiaries of Takaful wa Karama.
The Rural Industries Support Fund is finalizing a microfinancing programme targeting Takaful w Karama beneficiaries residing the countryside.
The president made two other instructions pertaining to social safety.
That will be extended to the monetary subsidies program.
The Senate is currently discussing during its plenary sessions the report prepared by its Financial and Economic Affairs Committee on the Economic and Social Development Plan for FY2022/2023 submitted by the government.
Minister of Social Solidarity Nevine al-Qabaj stated Monday that 6.5 million students are receiving monetary subsidies.
The official underlined that the sum is six times that of FY2015/2016, which is the launching year.
Between January 28, 2011 and July 3, 2013, Egypt lived in political instability because of overthrowing two regimes.
The initiative – dubbed Forsa (opportunity) and launched in 2019 – is aimed at funding small enterprises in the agricultural sector.
Among the economic reform measures assumed by the state, switching from in-kind subsidies to monetary subsidies is in progress.
Most Read
