Egypt expenses rise to LE 681B during first half of 20/21

CAIRO – 25 March 2021: Egypt’s expenditures increased 39.4 percent during the first half of the current fiscal year, on an annual basis, recording LE 681.11 billion, up from LE 621.62 billion in the same period of fiscal year of 2019/2020.

A report issued by Ministry of Finance revealed that wage expenses and compensation for workers increased during the six months to LE 160 billion, compared to LE 147.22 billion during the same period last fiscal year.

Wage expenditures and cash and in-kind allowances during the period were about LE 130.2 billion, compared to LE 119.28 billion during the same period last fiscal year.

The expenses of subsidies, grants and social benefits increased to LE 100 billion during the period from July to the end of last December, compared to LE 75.5 billion during the same period last fiscal year.

Expenses of purchasing goods and services declined during the first half of the current fiscal year to LE 28.2 billion, compared to LE 30.53 billion during the same period last fiscal year.

It noted that debt interest expense declined during the first six months of the current fiscal year to LE 245.7 billion, compared to LE 267.19 billion during the same period last fiscal year.

Public spending on the health sector rose to LE 43.01 billion during the period from July to the end of last December, of which about LE 22.39 billion were spent on wages of workers in the sector and LE 7.39 billion were spent on public investments in the health sector, up 49.8 percent over the same period of the last fiscal year. 

The education sector expenses rose to LE 74.93 billion, including wages and compensation for workers in the sector by LE 55.97 billion, marking an increase of 6.2 percent over the same period last fiscal year, and LE 12.89 billion for public investments in the sector.