Egypt: Health, education allocations see significant boost in FY 2025/26 budget, Madbouly
Moreover, Madbouly addressed economic developments, social protection measures, and major upcoming projects.
Madbouly confirmed that the government will submit the FY 2025/2026 draft budget to Parliament by the end of March, in line with constitutional requirements.
He highlighted a substantial increase in allocations for social protection programs, particularly the Takaful and Karama program, which will receive EGP 53 billion, up from EGP 40 billion.
He also emphasized the government's commitment to financial discipline and spending rationalization while working to reduce debt in the coming years.
Additionally, Madbouly assured that Egypt's foreign currency reserves are stable, with regular reviews taking place to ensure financial stability.
On housing, Madbouly announced that the government will launch its largest-ever housing initiative after Eid El Fitr, with 400,000 units set to be made available for various social groups, including youth and middle- and low-income citizens.
Some of these units will be ready for immediate delivery, while the remainder will be completed within two years.
The Prime Minister concluded by stressing the government's focus on export development, following meetings with theAdvisory Committee for Export Development.
He reaffirmed the government's commitment to doubling Egyptian exports and pledged continued collaboration with different export sectors to achieve this goal.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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