Egypt keen to ease cost-of-living burdens on citizens – FinMin
EGP 530 billion assigned for social protection package
Egypt’s Finance Minister, Mohamed Maait emphasised on Tuesday that his nation was keen to introduce comprehensive social support programmes for the most vulnerable members of society, according to a statement carried by Egypt’s Cabinet Facebook page on Tuesday.
To this end, Egypt is planning to increase social spending in the state budget on the health, education, and social protection sectors, in an effort to promote human development and lessen the cost-of-living burdens on citizens, Minister Maait noted.
Speaking at the Eighth Public Finance Forum for Arab Countries in Dubai during the Social Security Session, the minister stressed that the government has allotted 530 billion Egyptian pounds ($17.13 billion) for social support in the current financial year, up from 244.5 billion pounds in 2014/2015. He said, “The state also boosted the funding to 35.5 billion Egyptian pounds, with a growth rate of 614 per cent, for social security and Takaful and Karama (Solidarity and Dignity).”
The Egyptian government has also boosted health allocations from 36.4 billion pounds to 200 billion pounds during a nine-year period, according to Maait. He also confirmed that the amount spent on education has been increased significantly, from 84.1 billion pounds to 230 billion pounds.
