Egypt allocates EGP 530B for subsidies, social protection in FY2023/23 budget
Updated 11/30/2023 12:28:00 PM
Arab Finance: The Egyptian government has dedicated a sum of EGP 530 billion for subsidies and social protection in the fiscal year (FY) 2023/2024’s budget, compared to EGP 244.5 billion under FY 2014/2015 budget, Minister of Finance Mohamed Maait said.
Moreover, the state’s budget for the Takaful and Karama program and social insurance pensions has reached EGP 35.5 billion in FY 2023/2024, compared to $12.1 billion in FY 2014/2015, Maait pointed out.
The country has also allocated EGP 12.1 billion to support social housing in FY 2023/2024, up from EGP 150 million in FY 2014/2015, the minister added.
Additionally, EGP 128 billion have been allocated in the current FY’s budget to subsidize food commodities, compared to EGP 32 billion in FY 2014/2015.
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