President Sisi Approves FY 2021-2022 Closing Budgets for Key Sectors

On Monday, Egyptian President Abdel Fattah El-Sisi signed into law the closing budgets for various crucial sectors for the fiscal year 2021-2022. This notable move ensures continued government support for these sectors, reinforcing their key roles in Egypt's national development.

Law number 53 of 2023 confirmed the closing account for the General Authority for Land and Dry Ports with a sum of EGP 960,966,098. This allocation demonstrates the administration's commitment to bolstering infrastructure and enhancing transportation efficiency.

In a similar vein, Law number 54 of 2023 authorized the closing account for the Internal and International Land Transport Regulatory Authority for an amount of EGP 242,683,157. This funding underscores the importance of regulating transport operations to facilitate both domestic and international trade.

Furthermore, the National Postal Authority's final budget was ratified under Law number 55 of 2023, amounting to EGP 62,820,637,183. This substantial allocation is testament to the government's recognition of the importance of effective and efficient postal services.

The National Telecommunications Regulatory Authority's closing account was also approved by President El-Sisi, with Law number 56 of 2023 allotting EGP 11,679,458,121 to the sector. This allocation underlines the strategic importance of the communications industry in the digital age.

Law number 57 of 2023 approved the final account for the Information Technology Industry Development Authority, with a sum of EGP 1,133,610,568. This supports Egypt's commitment to nurturing a strong information technology industry as part of its modern economy.

The Egyptian Space Agency's closing account for the fiscal year 2021-2022 was validated under Law number 58 of 2023 with a sum of EGP 663,519,317, emphasizing the government's focus on space exploration and scientific advancement.

The National Tunnels Authority received a final budget of EGP 77,880,859,344 under Law number 59 of 2023, reinforcing its role in developing and maintaining critical infrastructure projects.

Law number 60 of 2023 confirmed the closing account of the General Authority for Commodity Supplies, amounting to EGP 116,597,700,852. This substantial funding reinforces Egypt's commitment to ensuring stable supply chains and the availability of essential commodities.

The General Authority for Arbitration and Cotton Testing was allotted EGP 250,728,725 under Law number 61 of 2023. This demonstrates the continued importance of the cotton industry to Egypt's economy.

Finally, the closing account for the Internal Trade Development Authority was approved under Law number 62 of 2023, amounting to EGP 821,955,004. This funding underscores the strategic importance of developing Egypt's internal trade capabilities.

These laws and their respective budgetary allocations highlight the Egyptian government's commitment to the nation's key sectors, paving the way for economic stability and sustainable growth.