Egypt: Total expenditures at 2022/2023 budget hit 2.71trln

CAIRO – Egyptian Minister of Finance Mohamed Maeet said Monday allocations for supporting social protection increased to LE356 billion in the new general budget draft upon the directives of President Abdel Fattah El Sisi, a matter that supports sectors and categories badly affected by Covid-19 and the Ukrainian-Russian crisis.

Delivering the financial statement of the new budget 2022/2023 at the House of Representatives, he said the Egyptians are able to overcome such exceptional ordeals and turn them into promising chances for development focusing on science and work as well as a better future.

Minister Maeet said the total expenditures in the new budget are expected to hit LE2.71 trillion.

He said LE400 billion had been allocated for wages at the new budget to improve the financial conditions of 4.5 million civil servants.

The minister added that LE5 billion had been allocated for appointing 60,000 teachers, doctors and pharmacists as well as employees needed in various sectors.

Minister Maeet pointed out that LE191 billion had been allocated to pension funds to secure pensions for nearly 10 million pensioners at annual costs estimated at LE38 billion.

He said LE90 billion had been allocated for supporting the subsidy of basic commodities including bread for 71 million citizens who receive subsidized goods.

The minister added that LE22 billion had been allocated for increasing the number of citizens who benefit from the Takaful and Karama Fund for social solidarity which benefits about four million families.

According to Maeet , LE3.5 billion had been allocated for supplying natural gas to 1.2 million housing units and LE7.8 million had been allocated to finance social housing initiative.

He also said LE10.9 billion had been allocated for health insurance and treating poor people at the state expense along with LE18.5 billion for providing medicines and medical equipment.

Despite the challenges and pressures on the state budget, the total allocations for health hit LE310 billion, he said, adding LE476.3 billion for university and pre-university education were disbursed while a sum of LE79.3 billion had been provided for scientific research.