Egypt eyes increasing financial allocations for health, education in FY 2020/21

Finance Minister Mohamed Maait has said that the government is aimed at increasing financial allocations during the next fiscal year for the sectors of health and education, with a view to strengthening human, social and economic development.

Maait made the remarks on Sunday while he was announcing the launch of a social dialogue on some basic assumptions and financial targets for the next fiscal year, which stated in the draft law of the public budget for fiscal year 2020/2021.

He added that the government also seeks to achieve an initial surplus of 2 percent of GDP and reduce the public debt to 83 per cent of GDP, as well as cutting the budget’s overall deficit to 6.2 percent.

Participants in the first meeting of the dialogue called on the state to raise spending on the areas of health, education, roads, agriculture and industry, in addition to spurring the investment climate and securing jobs for young people.