Draft Budget
This approval comes ahead of sending the budget to the House of Representatives within the constitutional deadline at the end of this month.
The ministry announced the initial features of the draft budget for 2022/2023 in a plan seeking to recover from the repercussions of the Coronavirus.
These indicators enable the state to provide allocations for improving wages and rewarding workers, as well as providing sufficient funds to improve infrastructure, as well as reducing the deficit and achieving debt targets.
Ma’it clarified Monday that 20/21 draft budget reflects the directions of the political leadership to improve the standard of living of citizens.
Egypt's 2020/2021 draft budget aims to reduce public debt of GDP to 82.7 percent by end of June 2021, and to achieve a primary surplus of 2 percent during the coming fiscal year.
Madbouli stressed that the new budget for 2020/2021 will include an unprecedented increase in government investments.
The preliminary financial statement will be issued in the third quarter of the current fiscal year 2019-2020, the Finance Ministry said in a statement Sunday.
The House of Representatives approved the Ministry of Manpower’s draft budget for the fiscal year 2019/2020.
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