Egypt’s Parliament Receives New Budget Sunday

The Egyptian parliament will receive tomorrow the budget for the fiscal year 2012/2013, which will start next July; after the government hasn’t received it on the exact time, last April. A number of MPs assured on not having a clash between the parliament and Al Ganzouri’s cabinet about the new budget.

Meanwhile, some members said the government meant to submit the budget late to the parliament in order not to have enough time for discussing it. It is decided that the discussion last for a whole month; through respective meetings for Budget and Planning Committee, headed by MP Saad Al Hussainy, along with all the committees and representatives from different ministries.

The initial features of the budget showed an increase than the budget in 2011 by 15%; approximately EGP 516 billion. The finance ministry has announced that the budget works on boosting the spending; increasing the competency of support’s procedures and it will assign new funds for achieving wages’ increase through the state’s available possibilities. The budget will also add a new item for regaining the insurance’s funds gradually, about EGP 10 billion.

It is decided that EGP 126 billion will be assigned for wages, EGP 25 billion for health, EGP 60 billion for education; this will make the budget deficit reach EGP 170 billion.

Saber Abou Al Fotouh, the head of Manpower Committee and FJP’s MP, said there will never happen a clash between the government and the parliament over the budget. And the parliament has to amend it; especially the new government will work on this budget.

He added that the new budget will last till July 2013, and it couldn’t be changed till electing a new president.