Egypt earmarks EGP 596b for subsidies in 2024-25 budget

Egypt plans to earmark around 596 billion Egyptian pounds ($12.6 billion) for subsidies in its 2024/2025 state budget, Minister of Finance Mohamed Maait said on Tuesday.

Speaking to key media figures in the country, Minister Maait said the planned allocation includes more than 125 billion pounds for bread subsidies and more than 147 billion pounds for petroleum products subsidies. Additionally, more than 40 billion pounds would be allocated for Takaful and Karama programme.

Health and education are “presidential priorities” in the new budget, he added.