Egyptian finance minister: Current budget more flexible to deal with global challenges

Egyptian Finance Minister Mohamed Maait confirmed that the budget for the current fiscal year is more flexible and able to respond positively to current global economic challenges.

The Egyptian Minister said: “The budget for the current year allows the implementation of the presidential directives by expanding the social protection zone for the most vulnerable groups and contributes to easing the burden of citizens, so that the state bears the maximum possible number of negative consequences. unprecedented inflationary wave that followed the coronavirus pandemic, and it has intensified. It escalated with the outbreak of war in Europe.

He added: “The budget is able to fulfill all its obligations to the administrative authorities, including wages and pensions, support and social protection of citizens and others, as well as the payment of international contributions in accordance with established schedules.”

The minister added that we are continuing to implement presidential mandates to provide the financial means needed to meet the basic needs of citizens and arrange the necessary funding for social protection for the groups most in need, including the recent exceptional package, which ranges from 11 to 12 billion pounds, which should include one million more families in the Solidarity and Dignity Programme, bringing the number of beneficiaries to more than 20 million Egyptian citizens.

He explained that the “electronic budget” allowed us to determine the amount of state treasury revenues, as well as the amount of expenditures in an instant, and then assess the correct position needed to make any accurate decision related to the state budget. public finances and making the best use of our resources so that we can reprioritize public spending to achieve financial and development goals.

Source: RT

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