CAIRO- Egyptian Finance Minister Mohamed Maeet said on Sunday more than half of 2024/2025 State budget funds are allocated to social protection and human development in the health and educational domains in implementation of directives of President Abdel Fattah El Sisi to ease burdens on citizens.
In press statements, Maeet said the new budget works on addressing the negative impact resulting from high inflation rates over the past two years and at the same time securing development needs in line with the priorities of national action within the coming period despite tough regional and international economic crises.
As of the 2024/2025 budget, investments on human development will be increased through expanding application of comprehensive health insurance system.
He said 635.9 billion pounds were allocated for social services in the new budget compared to 532.8 billion pounds in the current 2023/2024 fiscal year with a growth rate of 19.3%, in a way that boosts programmes aiming at easing burdens on middle -and low-income families.
Some 298 billion pounds were allocated for commodity subsidies, including: 134.2 billion pounds for food supplies compared to 127.7 billion pounds during the current fiscal year, with an annual growth rate of 5.1%, and 154.5 billion pounds for petroleum products compared to 119.4 billion pounds in the current budget.
He pointed out that 2.5 billion pounds were allocated to support electricity, one billion pounds to support water companies and 657 million pounds to support farmers.
