CAIRO- Egypt’s Minister of Finance Mohamed Maait said his ministry is committed to providing the necessary financing in order to meet the basic needs of citizens in accordance with the presidential directives as regards working continuously to mitigate the global inflationary wave, so that the state treasury can bear the difference in the prices of goods and services as much as possible in light of the interlinked global crises and the consequent disruption of supply chains.
“We are keen to take measures that contribute to expanding the social protection umbrella with programs that increasingly target the most vulnerable and the most needy families,” the minister added in a statement released by the Finance Ministry on Thursday.
The budget for the new fiscal year sees EGP 32 billion allocated for financing social security programs and the Takaful and Karama cash transfer program, EGP 3.5 billion dedicated to the costs of delivering natural gas services to homes, EGP 140 billion for supporting supply commodities, EGP 10.2 billion for backing social housing and providing adequate housing for the low-income and the youth, in addition to a sum of EGP 14.1 billion for health insurance, medicines, and the treatment of the poor at the State’s expense, Maait said.
The budget also includes proceeding with the presidential initiatives meant to treat chronic diseases, he added.
