Latest news with #Takaful&Karama
Al-Ahram Weekly
13-03-2025
- Business
- Al-Ahram Weekly
Egypt puts health, education at top of new budget allocations: PM - Society
Prime Minister Mostafa Madbouly said health and education allocations in the new budget have significantly increased compared to other sectors. PM Madbouly made his remarks during the cabinet's Wednesday meeting. During the meeting, he announced the cabinet's decision to hold biweekly meetings to monitor the progress of projects under the Decent Life initiative. He clarified that the goal is to complete the initiative's first phase and prepare for launching the second phase in fiscal year (FY) 2025/2026. The cabinet also raised the budget for the Takaful & Karama social protection programme to EGP 53 billion for 2025/2026, up from EGP 40 billion, to ensure greater support for vulnerable families. Moreover, Madbouly noted that the government will launch 400,000 housing units across different social categories after Eid Al-Fitr in April. The prime minister also highlighted that the state prioritises preserving Egypt's architectural heritage while redeveloping the Khedivial Cairo. The government aims to maintain these areas' historical and urban character without altering their cultural identity, he emphasized. Furthermore, Madbouly noted that the government is closely monitoring export growth. Sector-specific meetings will begin next week to ensure each industry meets its export targets. He also revealed that Egypt's inflation rate has declined to 12.5 percent, the lowest in three years, with a target of reducing it to 10 percent by 2026. Madbouly said foreign currency resources remain strong, and weekly reviews are conducted with the governor of the Central Bank of Egypt to meet all USD-related needs. "The International Monetary Fund's approval of the fourth review of Egypt's economic reform programme is a message of confidence in the Egyptian state and a significant endorsement of its economic progress," the prime minister added. Follow us on: Facebook Instagram Whatsapp Short link:
Al-Ahram Weekly
11-02-2025
- Business
- Al-Ahram Weekly
Egypt increases Takaful & Karama cash support to over EGP 3 bln monthly
Egypt significantly increased cash support allocations for Takaful & Karama beneficiaries to EGP 41 billion annually in FY2024/2025, providing over EGP 3 billion to 4.7 million families monthly, Minister of Social Solidarity Maya Morsy said Monday. Morsy said during the parliament's Human Rights Committee meeting that 1.79 million families were beneficiaries in 2014/2015. The Takaful & Karama cash support programme, launched in 2015, is a key pillar of Egypt's social protection system. It offers financial assistance to low-income families, elderly people, and individuals with special needs, particularly in Upper Egypt. During her speech, Morsy added that the programme is implemented through collaboration among relevant entities to ensure financial aid reaches eligible recipients. Moreover, the programme aims to transition beneficiaries from dependency to "economic empowerment" through various initiatives. Morsy explained that beneficiaries continue to receive comprehensive social protection services, while cash assistance is suspended only after the stability of their employment or business is verified. She also highlighted the various social services available to Takaful & Karama recipients, including state-funded medical treatment, healthcare support for low-income individuals, general and comprehensive health insurance, tuition fee exemptions, literacy programmes, and integrated service cards. The programme aligns with key presidential initiatives such as 100 Million Healthy Lives and A New Beginning for Building the Egyptian Citizen. In September, Egypt expanded its health insurance coverage to include another 8.5 million citizens, encompassing Takaful & Karama beneficiaries and informal workers in the construction sector. Short link:
