Egypt's gov't allocates LE 376bln investments to improve services, create job opportunities

Wed, 31 Aug 2022 - 11:08 GMT

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.

Budget allocated to Egypt's seaports development in 2014/24 is LE129B

Wed, 17 Aug 2022 - 03:12 GMT

Minister of Transport Kamel al-Wazir made the statement Wednesday.

Egypt's new fiscal year plan aims for involving women in participatin in budget preparation cycle

Mon, 15 Aug 2022 - 11:16 GMT

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.

Egypt achieved primary surplus of LE98.5B in FY 2021-22: Finance min.

Thu, 07 Jul 2022 - 03:09 GMT

The minister's remarks were made during a Cabinet meeting held Thursday under Prime Minister Moustafa Madbouli.

Egypt's budget deficit falls to 6.1% of GDP in 2021/22

Mon, 04 Jul 2022 - 04:21 GMT

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.

Egypt's expenditures increased by 11.2% in 11 months

Mon, 27 Jun 2022 - 05:59 GMT

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.

Egypt allocates 458 bn to implement national human rights strategy this year

Thu, 23 Jun 2022 - 12:45 GMT

More than 446 billion pounds has been allocated to economic, social and cultural rights

Budget of new fiscal year exceeds LE 3T: Finance min.

Sun, 19 Jun 2022 - 01:30 GMT

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.

Sisi approves final account of state budget for FY 2020-21

Thu, 02 Jun 2022 - 06:53 GMT

As per the law, passed by the House of Representatives, public expenditures for the FY 2020-21 stood at approximately LE 1.6 trillion while the state's revenues hit nearly LE 1.1 trillion

Value of 'Decent Life' initiative rises to LE1T, completion date pushed to 2025

Wed, 01 Jun 2022 - 02:00 GMT

The official pointed out that the pilot phase – implemented in 2019 - targeted the poorest 375 villages.

IDSC: reducing debt, increasing revenues most important features of Egypt's 22/23 budget

Mon, 23 May 2022 - 05:12 GMT

The IDSC added that the next year's budget targets LE 2 trillion in expenditures.

Egypt aims to reduce budget debt to 84% of GDP during 2022/23

Mon, 09 May 2022 - 01:27 GMT

The government is working to extend the life of the debt to reach 3.6 years by the end of June 2023 instead of 3.5 years expected by the end of next June and about 1.3 years in June 2013.

Egypt's budget deficit to GDP dips to 4.9% during 1st nine months of 2021/22

Tue, 26 Apr 2022 - 04:13 GMT

Tax revenue also increased by 12.8 percent, in addition to maintaining the budget's achievement of a primary surplus, according to Minister of Finance Mohamed Maait.

Egypt allocates LE130B reserves in 2022/2023 to absorb rise in prices: PM

Thu, 24 Mar 2022 - 03:21 GMT

Madbouli added that President Sisi made it clear that the state was able, with good and proper planning, to supply sufficient reserves of goods, which enabled the Egyptian state to absorb and deal with this unprecedented crisis.

Egyptian president instructs government to prepare bundle of financial measures to face global economic downturn

Mon, 21 Mar 2022 - 11:02 GMT

While checking the FY2022/2023 draft budget, President Abdel Fatah al-Sisi instructed the government to immediately prepare a bundle of financial and social protection measures.

Finance min. says expanding 'participatory budget' nationwide to promote social engagement

Wed, 16 Mar 2022 - 06:14 GMT

While Deputy Minister of Finance for Fiscal Policies Ahmed Kouchouk said that the Finance Ministry’s transparency and social engagement unit had organized an “active citizenship club” initiative to ensure effective and sustainable communication among all social strata, especially youths.

Egypt's general budget able to withstand shocks, all needs are available: Min.

Wed, 09 Mar 2022 - 04:59 GMT

“The state budget is capable, and Egypt achieved growth rates that exceeded all expectations,” he added.

Egypt's budget might bear additional LE 12-15B due to rise in wheat prices globally

Sun, 06 Mar 2022 - 03:27 GMT

The budget for the current fiscal year will end on June 30, 2022.

Egypt aims to increase green investments to 50% in 24/25 budget

Mon, 28 Feb 2022 - 02:40 GMT

Maait elaborated during his meeting with members of the British Egyptian Business Association, that the increase of green investments comes in order to improve Egypt's competitiveness in the Environmental Performance Index.

Green investments allocate 30% of Egypt's 21/22 budget

Tue, 15 Feb 2022 - 04:35 GMT

Maait elaborated that Hayah Karima is the largest project and one of the best development programs in the world, as it contributes to recording real growth that is more diversified and comprehensive and has an impact on people’s lives.