Parliament approves FY 2018/2019 budget

Abdel Razek Al-Shuwekhi
1 Min Read

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.

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