The Egyptian Parliament approved on Tuesday the fiscal year 2017/2018 general budget with a total expenditure of up to EGP 1.4tn and expected revenues of EGP 938bn.
The budget deficit reached 8.4%, while the growth rate stood at 5.8%, driven by new employment opportunities provided by private sector investments, amounting to about 850,000 jobs.
MP Haitham Al-Hariry said the financial allocations for education were increased by about EGP 3bn to reach EGP 175bn, and the health sector’s allocations were also increased by EGP 500m.
