MOF: SCAF Ratifies State’s New Budget
Minister of Finance Moamtaz Al Saeed announced that the Supreme Council of the Armed Forces (SCAF) ratified the state’s new budget for fiscal year 2012/2013. SCAF also ratified the laws of the economic and social plan for the fiscal year 2012/2013, plus accredited laws connect 50 economic authorities to the national authority for military production.
The minister emphasized on working with the new budget from Sunday; July 1st, 2012.
He added that the ministry o finance is informing the state’s administrative apparatus, services authorities and governorates of its financial allocations for the new fiscal year 2012/2013. That is for spending during the fiscal year pursuant to rules of law No. 53/1973 which concerns the state’s budget and its executive regulation as well the laws of financial transactions.
The minister said Mr President Mohamed Morsi decided to grant 15% bonus to the civil servants in the state’s administrative apparatus. Morsi also decided to increase the pensions by 15%, and with minimum limit EGP 50 and without maximum limit.
Also the president increased the social solidarity pension to reach EGP 300 every month; the increase rate will be pursuant to the family members.
