The total support directed by the Egyptian government to several areas of economic development within the budget for the current fiscal year 2022/2023 is around LE12.76 billion.
This figure represents 3.4 percent of the total financial allocations for “support, grants and social benefits” included in this year’s budget, amounting to more than LE355.9 billion.
The values of support directed to the four areas of economic development are as follows:
- Support to stimulate exports, with a value of six billion LE.
- Supporting the natural gas delivery program for homes, with a value of LE3.5 billion.
- Supporting the Nile Basin Initiative, with a value of LE500 million.
- Supporting the vehicle finance fund program, with a value of LE494 million.
- About LE1.58 billion in support of other parties.
According to a financial statement from the Finance Ministry to the Economic Committee of the House of Representatives, the support directed to stimulating exports accounted for the largest proportion of the total support for areas of economic development.
The financial statement on the draft budget for the current fiscal year 2022/2023 was discussed by Parliament during its second session on Monday.
The value of support directed to stimulating exports amounted to six billion LE, followed by support directed to programs for delivering natural gas to homes, which amounted to LE 3.5 billion.