Sisi Oks new law earmarking EGP 10 bln to help fight coronavirus

Egypt’s President Abdel Fattah al-Sisi approved on Monday  new law to add 10 billion pounds to the state budget for the financial year 2019/2020 to ease the repercussions of the coronavirus on the country and stimulate the economy, Al-Ahram Arabic news website reported.

The new allocation, which parliament approved last month, is part of an emergency plan estimated at 100 billion pounds the president agreed to on 14 March to mitigate the economic impact  of the coronavirus in Egypt, Mohamed Maait, minister of finance, told parliament earlier.

The law is meant to help day and seasonal labourers negatively affected by the precautionary measures taken to contain the coronavirus, and to support productive sectors, Maait added.

The law was published in the official gazette.