Sisi nods ‘trillionistic’ state budget

CAIRO – 3 August 2017: President Abdel Fatah al-Sisi issued decree no. 145/2017 approving the state budget of fiscal year 2017/18.

The budget expenditure was LE 1.207 trillion ($67 billion), while the revenues were set at LE 852.34 billion.

Recording the largest spending area was on subsidies and social safety programs at LE 332.727 billion, followed by LE 200.39 billion for wages and pensions.

Spending on purchasing products and services was LE 52.65 billion. Around LE 83.986 billion was allocated for interests.

Egypt allotted LE 265.390 billion for repaying external and domestic debts.
The value of investments and purchasing assets was set at LE 135.431 billion.