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El-Sisi ratifies additional credit of EGP 6B in FY 2021/2022 budget

El-Sisi ratifies additional credit of EGP 6B in FY 2021/2022 budget

ArabFinance: President Abdel Fattah El-Sisi has approved Law No. 27 of 2022 endorsing an additional credit of EGP 6 billion in the general budget for the fiscal year (FY) 2021/2022, under the third section of  ‘Interests’, the Middle East News Agency (MENA) reported on May 22nd.

The new law also provides for an EGP 6 billion increase for the general resources under the fifth section of ‘borrowing’.

Moreover, the new law amends Law No. 74 of 2021, linking the general budget for FY 2021/2022 with the impact of the additional credit.

The new law will be effective as of the next day of publication in the Official Gazette.

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