ITIDA sets FY2016/17 budget at 518 mln Egyptian pounds

Information Technology Industry Development Agency (ITIDA), the IT arm of the Egyptian telecoms ministry, has announced Tuesday it estimated its total budget at 518 million Egyptian pounds ($58.3 million) for the financial year 2016-2017.

Expenditures in this year’s budget account for 265 million pounds distributed as follows: 59 million pounds for wages and salaries, and 206 million pounds for other purposes.

As for revenues, there were estimated at 350 million pounds with an expected budget surplus of 84 million pounds of which 15 million pounds designated for the government.