Finance Minister Hani Qadri Dimian said LE11 billion will be allocated for social security pensions in the 2015-2016 state budget, covering approximately three million pensioners.
In an interview with a talk show aired on the privately-owned TV channel Sada al-Balad, Dimian said the main target behind the adopted financial policy is to refresh the economy and enhance services. The minister added that citizens’ needs are still higher than available financial resources, however.
Among other upcoming changes, include smart card registration for children who have yet to be given a bread allocation.
Education and health sector allocations increased by 20 percent of the total expenditure during the current state budget, Dimian said, adding that expenditures on the energy subsidy reached 16 percent, which indicates fairness in the distribution of resources.
Despite current regional circumstances, credit rating institutions have raised the rating of the Egyptian economy, Dimian added, referring to an improvement in economic indicators.
Edited translation from Al-Masry Al-Youm
