Egypt assigns EGP 185b for social welfare in FY23/24 budget

The Egyptian government has significantly increased spending on social welfare programmes in its fiscal year 2023/2024 budget, demonstrating its commitment to improving citizens’ lives.

A total of 185 billion Egyptian pounds has been allocated to social insurance and pensions, in addition to an extra grant of 32 billion pounds benefiting around 11 million pensioners. Pensions have also been raised by 15 per cent, impacting over 13 million retirees.

Additionally, the Takaful and Karama programme, providing financial support to vulnerable families, has seen a 48 per cent funding increase to 31.1 billion pounds.

Attribution: Ministry of Finance statement

Subediting: Y.Yasser