budget
President El-Sisi placed high priority on continuing intensive efforts to curb inflation, through integrated and consistent programs and policies.
The Ministry of International Cooperation revealed, in a statement, that these efforts resulted in the mobilization of soft financing worth approximately two billion dollars, with $700 million approved by the World Bank’s Board of Directors within the Development Policy Financing (DPF) program.
The total budget deficit amounted to LE 759.19 billion from July to March of the fiscal year 2023/2024, compared to LE 545.73 billion during the same period of the fiscal year 2022/2023.
The move reflects the State's commitment to supporting low-and middle-income families, especially in light of the ongoing economic reforms made by the State, Maait added in a statement released on Thursday.
This includes setting a maximum limit for the government's debt value in all its economic, service, administrative entities, and local authorities.
Salaries allocations in the current fiscal year 2023/2024 amount to LE 470 billion.
According to the amount of expenditures and revenues, the expected total deficit would be LE 1.3 trillion.
Economic Expert and Member of Al Masreyin Al Ahrar (The Free Egyptians Party) Mohamed Badra attended Tuesday the National Dialogue's session on public debt and budget deficit putting forward two suggestions.
The new budget was finally approved by the Parliament with estimated value of uses at LE 4.349 trillion.
Those were put forward during the public discussions held within the economic axis.
Egypt will not take out new loans unless they are on soft terms and only for pressing developmental needs, the minister said.
The minister noted that the new budget estimated the inflation rate at 16 percent.
The meeting highlighted the importance given by the draft budget to financing social protection programs in line with the directives of President Abdel Fattah El Sisi to ease the burdens of the neediest segments of the society.
That is FY2022/2023.
The Egyptian government has allocated investments for the Red Sea Governorate, according to the 22/23 year plan, at about 4.4 billion pounds, of which 57.6% is funded by the public treasury.
The growth came thanks to an increase in budget revenues by 15.6% during the first quarter of the current fiscal year, to reach 258.9 billion pounds, despite the increase in banks by about 19.2% compared to the same period in the last fiscal year.
Do you always try to spend less yet wonder where all the money flew out of the sudden? If yes, then this one is for you.
A total of 120 million pounds were allocated for the relief sector in the budget of the Ministry of Solidarity in Egypt this financial year, according to Minister Nevine al-Kabbaj.
The government directed about 711.8 million pounds to the medical sector, with an increase of 56.1 million pounds compared to the allocations of the previous fiscal year.
According to the budget, a total of 5 billion pounds were allocated to bear the financial burdens resulting from the reduction of electricity prices for the industrial sector.
