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Egypt ratifies EGP 6B exceptional aid package under Takaful and Karama Program

Egypt ratifies EGP 6B exceptional aid package under Takaful and Karama Program

Arab Finance: The Egyptian government has endorsed exceptional aid packages worth a total of EGP 6 billion for new 1 million families under the Takaful and Karama program, Executive Director of Economic Justice Unit at Minister of Finance Mai Farid said in a press conference on September 27th.

The government will support more than 36 million low-income citizens and pensioners with nearly EGP 900 million a month, along with the previously approved EGP 100 billion exceptional packages on the onset of Covid-19 pandemic, Farid added.

For his part, Minister of Finance Mohamed Maait mentioned that the financial allocations for the support and social protection programs amounted to around EGP 490 billion in the current fiscal year’s budget.

Moreover, the minister pointed out that spending on education and healthcare increased by 21% and 22%, respectively, in fiscal year (FY) 2021/2022 budget.

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