The Finance Minister addressed on Tuesday a general session at the parliament to discuss the final account of the state budget for fiscal year 2016/17.
President Abdel-Fatah al-Sisi said that he was “delighted” with the implementation of a social protection system that covers the poor and the needy.
The budget’s overall deficit dropped to 1.9 percent of GDP in the first quarter of fiscal year 2017/2018, compared to 2.5 percent last year.
The second phase of ‘Sotra’ project kicks off today, aiming to provide the country’s poorest with housing units.
The latest economic decisions taken by President Abdel Fatah al-Sisi will cost the government a total of LE 75 billion ($4.1 billion).
The exceptional bonus for public employees, earmarked by the Cabinet, will be paid as of July 1.
The Egyptian cabinet approved a new social solidarity package with a total value of LE 43 billion ($2.4 billion) in FY2017/18, Amr el-Garhy said Monday.
The government is taking a handful of measures to protect the poor in the new budget for the fiscal year 2017/2018, which starts on July 1.