Egypt's Next Fiscal Year Budget to Increase

Egyptian Parliament announced yesterday that the government will utilize the state's largest budget for the next fiscal year, which begins on 1 July.

The budget is expected to increase by EGP 1.551 billion (EGP 150) million in 2019/20 in comparison with 2018/19's EGP 1.4 billion.

Ministry of Finance stated that that increase aims to provide enough money to for the poor and limited-income classes, in addition to raising the minimum wages to EGP 2000 ($120) per month instead of EGP 1200 ($71).

The new budget will include a large expenditures on education and health reaching EGP326.8 billion compared to EGP 257.7 billion last year, according to Finance Minister Mohamed Maeet.