Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Maait: Financial Allocations for Public Investments in New Budget Grew by 56%

Fri 31 Mar 2023 | 11:28 PM
Ahmed Moamar

Dr. Mohamed Maait, Minister of Finance, said that financial allocations for public investments witnessed an unprecedented increase, especially self-financed, to reach 306 billion pounds out of total public investments amounting to 586.7 billion pounds, up from 376 billion pounds at an annual growth rate of 55.9% to create new jobs and improve the services provided for citizens, according to the statement of the Ministry of Finance today.

The minister added that the state’s general budget which comprises

“the state’s administrative apparatus, local administration, and service public bodies” tots

its expenditures, according to estimates for the next fiscal year, about EGP 3 trillion, with an annual growth rate of 44.4%, while the estimated total revenues amount to EGP 2.1 trillion, with an annual growth rate of 41.2%. % Tax revenues are expected to increase by 31% as a result of expanding the tax base and registering new financiers.