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Egypt parliament approves state budget at LE 5.5 trillion

The Egyptian House of Representatives approved the draft law on state’s general budget for the fiscal year 2024/2025.

During a plenary session on Monday, the house also approved a draft law on the economic and social development plan attached to the budget for the fiscal year of 2024/2025.

The total budget use for the fiscal year 2024/2025 amount to about LE 5.5 trillion, compared to about LE 3.4 trillion in the budget for the current year 2023/2024.

Finance Minister Mohamed Maait said: “I reassure the people that the government is committed to reducing burdens and dealing with the effects of the inflationary wave.”

Maait also responded to the criticism of some representatives to the state’s general budget draft: “We have a responsibility before God in light of the huge challenges and circumstances that everyone knows internally and externally. I refer here to the crisis of overpopulation in light of weak resources. There are 2.5 million children (born) annually who need resources.”

He continued, “There are huge challenges since the COVID-19 pandemic until the present time. We are committed to improving the people’s livelihood, but at the same time preserving the financial security of this country. However, there is the possibility of adding allocations for some fields,” referring to health and education.

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