Egypt's public expenditures surge by 7.3% in FY2024/2025

CAIRO - 27 November 2024: The Ministry of Finance reported a significant rise in public expenditures, increasing by LE 74.7 billion (7.3 percent) during the period from July to October of the fiscal year 2024/2025. Total spending reached LE 1.098 trillion, compared to LE 1.023 trillion during the same timeframe in the previous fiscal year.

Spending on wages and employee compensation saw a notable increase of 22.4 percent, amounting to LE 197.1 billion over four months, up from LE 160.9 billion.Expenditures on goods and services surged by 50.3 percent, reaching LE 56 billion compared to LE 37.2 billion.

Spending on subsidies, grants, and social benefits grew by 30.9 percent, totaling LE 168 billion, compared to LE 128.3 billion.Food subsidy allocations reached LE 33.2 billion.

Housing for low-income groups received LE 2.7 billion.Export support spending increased to LE 1.9 billion.Spending on industrial production support rose to LE 1.9 billion, while cash subsidy programs (Takaful and Karama) grew to LE 13.1 billion.

Treasury contributions to pension funds increased to LE 62.6 billion, with healthcare expenditures totaling LE 4.4 billion.

Healthcare spending climbed 31.9 percent to LE 65.8 billion, compared to LE 49.9 billion in the previous fiscal year.Education expenditures rose by 28.3 percent, reaching LE 101.2 billion, up from LE 78.9 billion.

Interest Payments and Investments DeclineInterest payments decreased by LE 10.3 billion, totaling LE 583.5 billion, as part of efforts to optimize debt management and diversify funding sources.

Spending on non-financial asset purchases (investments) dropped by LE 15 billion, amounting to LE 42.6 billion compared to LE 57.5 billion. This aligns with the government’s initiative to cap investment spending at LE 1 trillion for the current fiscal year.