Scholarship’s share hit 3 billion in 2019

CAIRO – 20 April 2019: The State's budget of the fiscal year 2019/2020 increased the scholarship’s share up to LE 3.8 billion (about 0.006 percent of the Gross Domestic Product GDP), compared to LE 1 billion(0.02 percent of GDP).

Scholarship revenues of the fiscal year 2018/2019 hit 0.34 percent of the overall public revenues, and 0.24 percent of the public expenditure.

Other revenues hit LE 274 billion (about 4.4 percent of the GDP).The surplus of the Egyptian General Petroleum Corporation was about LE 19 billion with a rate of growth of about 75.9 percent in the fiscal year 2018/2019.

While the surplus of Suez Canal Authority reached LE 36.142 billion with a growth rate of 9.7 percent, compared to LE 32.96 billion in the previous year, according to the Ministry of Finance's official statement.

Egypt's economy has achieved its highest growth rate within a decade to reach 5.5 percent thanks to the economic reform program adopted by the government, Planning Minister Hala el Saaed said on the sidelines of the 44th annual meeting of Islamic Development Bank (ISDB) board of governors, held on April 5-6 in Marrakesh.

The decline of the monthly inflation rate to 11.1 percent in December 2018, the lowest in 33 months - since 2016, is among the positive indicators combined with the notable retreat of the average inflation rate in the first half of 2018/2019 to record 14.1 percent ,compared to 30.2 percent in the same period of 2017/2018, Saaed said.