Egypt's expenditures increased by 11.2% in 11 months

CAIRO - 27 June 2022: Total expenditures in the state’s general budget increased by 11.2 percentLE , to reach 1.47  trillion during (July-May) 2021-2022, compared to LE 1.32 trillion during the same period of the previous fiscal year.

 

The Ministry of Finance indicated, in a report, Monday, that wages and workers’ compensation expenses increased by 11.5 percent by about LE 33.6 billion, to reach LE 326.5 billion within 11 months, and increased spending on the purchase of goods and services by LE 18.8 billion, to reach LE 79.4 billion in light of the increase in spending on raw materials and on water and lighting.

 

It explained that 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.

 

Expenditure allocated to the treasury's contribution to pension funds rose by about LE 13.4 billion, recording LE 112.5 billion in 11 months, in light of the settlements between the state's public treasury and pension funds.

 

Expenditure on social security benefits (including cash support for the Takaful and Karama programs) increased to LE 18.4 billion during the period of the study.

 

Spending on the purchase of non-financial assets (investments) increased by about LE 5.3 billion to reach LE 196.2 billion, reflecting interest in developing infrastructure and improving services provided to citizens.

 

“Spending on the most important items of social protection increased by about LE 70 billion, or 14.3 percent, to reach LE 561.3 billion, compared to LE 491.2 billion during the same period of the previous fiscal year.

 

Expenditure on the health sector rose by about LE 18.5 billion, or 21.2 percent, to reach LE 105.7 billion, compared to LE 87.2 billion, and spending on the education sector rose by LE 26 billion, or 18.6 percent, to reach LE 165.4 billion, compared to LE 139.4 billion during the same period of the previous fiscal year.

 

The Ministry of Finance hinted at the government's continued efforts to take measures to re-prioritize public spending and to pay attention to increasing social spending, investing in human development, developing infrastructure and services provided to citizens.