budget
Economic Expert and Member of Al Masreyin Al Ahrar (The Free Egyptians Party) Mohamed Badra attended Tuesday the National Dialogue's session on public debt and budget deficit putting forward two suggestions.
The new budget was finally approved by the Parliament with estimated value of uses at LE 4.349 trillion.
Those were put forward during the public discussions held within the economic axis.
Egypt will not take out new loans unless they are on soft terms and only for pressing developmental needs, the minister said.
The minister noted that the new budget estimated the inflation rate at 16 percent.
The meeting highlighted the importance given by the draft budget to financing social protection programs in line with the directives of President Abdel Fattah El Sisi to ease the burdens of the neediest segments of the society.
That is FY2022/2023.
The Egyptian government has allocated investments for the Red Sea Governorate, according to the 22/23 year plan, at about 4.4 billion pounds, of which 57.6% is funded by the public treasury.
The growth came thanks to an increase in budget revenues by 15.6% during the first quarter of the current fiscal year, to reach 258.9 billion pounds, despite the increase in banks by about 19.2% compared to the same period in the last fiscal year.
Do you always try to spend less yet wonder where all the money flew out of the sudden? If yes, then this one is for you.
A total of 120 million pounds were allocated for the relief sector in the budget of the Ministry of Solidarity in Egypt this financial year, according to Minister Nevine al-Kabbaj.
The government directed about 711.8 million pounds to the medical sector, with an increase of 56.1 million pounds compared to the allocations of the previous fiscal year.
According to the budget, a total of 5 billion pounds were allocated to bear the financial burdens resulting from the reduction of electricity prices for the industrial sector.
Minister of Transport Kamel al-Wazir made the statement Wednesday.
The Egyptian government's keeness to empower and involve women has been reflected in the financial statement for the new fiscal year 2022/2023, as plans are underway to implement activities to empower girls and women in the poor villages listed in Haya Karima initiative.
The minister's remarks were made during a Cabinet meeting held Thursday under Prime Minister Moustafa Madbouli.
The value of the debt service bill decreased to 32.8 percent in the last fiscal year, compared to 35.8 percent in the previous fiscal year, the data revealed.
Spending on subsidies, grants and social benefits rose by about LE 33.2 billion to reach LE 264.8 billion within 11 months, and spending on subsidizing food commodities increased by LE 12.7 billion to reach LE 83 billion during the period of the study.
More than 446 billion pounds has been allocated to economic, social and cultural rights
The budget reflects boosting social protection for the more damaged sector to contribute to decreasing the negative effects of war in Europe so that the state shoulder the biggest burden from the citizens, he said.
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