Billions of pounds allocated to the poor in new budget

CAIRO – 15 May 2017: 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.

The budget is currently being discussed in the parliament.

According to the statement presented by Minister of Finance Amr el-Garhy to the parliament last week, the government approved the following:

- 15.4 billion EGP in aid and pensions for citizens.

- 7.5 billion EGP for social protection, which will take the shape of a monthly stipend that amounts to 450 EGP for families containing four persons, 413 EGP for families of three persons, 360 EGP for families of two persons and 325 EGP for those compromise of one person.

- 7.7 billion EGP for Takaful and Karama programs, a social safety net that covers the country’s poorest and most vulnerable.

- In the Takaful program, the government will pay 325 EGP for each family, in addition to 60-100 EGP per child on a monthly basis.

- In the Karama program, the government will pay each elderly or disabled person LE350 per month.

- 77 million EGP in monthly aid for certain groups of people, including families of conscripts. The aid will cover 18,000 families.

- 70 million EGP in stipends for children of 55,000 families.