Egyptian Finance Minister assures compensation for society once stability is restored

Egyptian Finance Minister Mohamed Maait said: “We know very well that we have a role to play when global conditions stabilize and inflation comes down, compensating society for this negative impact.”

This happened today, Monday, during the plenary session of the House of Representatives, which discussed the general report of the Plan and Budget Committee on the draft plan for economic and social development for the financial year 2023/2024, the draft general state budget, the draft budgets of economic state bodies and the National military production directorate for the 2023/2024 financial year.

Maite confirmed the existence of several initiatives to support the industry, including a £23.5 billion export production incentive initiative, in addition to a £6 billion industrial electricity subsidy and half a billion pounds deepening of Egypt’s auto industry.

Regarding the enforcement of judgments, the finance minister said: “We are committed to the enforcement of judgments and we have complied with 6,000 judgments. All orders received will be implemented.”

Finance Minister Dr. Mohamed Maait said that the FY23/24 budget is exceptional given the circumstances the whole world is going through, which is reflected in the budget figures and figures because it is a product and a translation of strategies and challenges.

Source: RT

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