Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Egypt Allocates More than Half of New Budget 2024/25 to Social Protection

Sun 05 May 2024 | 11:44 PM
Taarek Refaat

The Egyptian Minister of Finance Mohamed Maait announced that more than half of the state’s expected revenues in the new budget for the next fiscal year 2024/25 will be allocated to social spending on support, social protection, and human development.

He added that President Abdel Fattah El-Sisi issued directives to reduce the burden on citizens and work to improve their standard of living, as it was decided to meet the constitutional entitlement rates for health at 496 billion pounds, pre-university education at 565 billion pounds, higher and university education at 293 billion pounds, and scientific research at 140.1 billion pounds. 

Up to 298 billion pounds were also allocated to support goods and 232 billion pounds to enhance social and development services, in addition to 134.2 billion pounds for food supplies, with an annual growth rate of 5.1%.

The government allocated 23 billion pounds to support and stimulate exports, and 17.5 billion pounds to support industrial and agricultural activities.

Regarding petroleum products, 154.5 billion pounds were allocated to petroleum products, an increase of 29.4%, 2.5 billion pounds to support electricity, 1 billion pounds to support water companies, and 3.5 billion pounds to natural gas programs for house holds.