Pensions expenditure increased by LE9 billion in state budget, says finance minister

Finance Minister Samir Radwan, in a press conference of Sunday, said that the Supreme Council of the Armed Forces approved the 2011/2012 state budget on Thursday, adding that the provision for pensions was increased by LE9 billion.

Radwan, however, added that he was “sad” that investment expenditure had been reduced to LE40 billion.

Meanwhile, Saeed al-Sabbagh, president of the pensions syndicate, said Radwan’s statements were misleading.

Translated from the Arabic Edition

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