Finance Minister Mohamed Maait said the ministry is keen on expanding the social protection packages in budget of current Fiscal Year 2023/2024 to EGP 529.7 billion to ease burdens resulting from the current global inflation, an increase of 48.8 percent compared to the last FY.
In a statement by the Finance Ministry on Saturday, Maait said an amount of EGP 127.7 billion was allocated in the new budget to support food commodities, EGP 31 billion for social solidarity programs, EGP 14.1 billion for health insurance and medicines, EGP 10.2 billion for subsidized housing and EGP 202 billion for pension fund contributions.
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