(3 minutes read)
· Egyptian Finance Minister Mohamed Maait, reviewed the financial performance indicators during the period from July to December of the fiscal year 2021/22, and preliminary estimates of the targets for the current fiscal year
· He said that during the first six months of 2021/22, the general budget achieved a primary surplus of LE 3.2 billion
· The Ministry of Finance allocated to LE 56 billion to address the exigencies of the Covid-10 pandemic
Egyptian Finance Minister Mohamed Maait, reviewed the financial performance indicators during the period from July to December of the fiscal year 2021/22, and preliminary estimates of the targets for the current fiscal year. He said that during the first six months of 2021/22, the general budget achieved a primary surplus of LE 3.2 billion. The minister was addressing the cabinet meeting yesterday (Wednesday)
The Ministry of Finance allocated LE 56 billion to address the exigencies of the Covid-10 pandemic. The government investments also recorded an increase. It paid the dues of the Insurance and Pension Fund an amount of LE 75 billion. Revenues achieved a growth of 10.3% on an annual basis, during the period July-December 2021, while the tax revenues increased by 15.7%, the minister disclosed.
The government expenditure has recorded a significant growth, the minister observed. In addition, allocations to social protection programs have been enhanced, besides increasing allocations to the health and education sectors.
The minister added that during the first six months of the current fiscal year, the growth rate of medicine purchase increased by 199% to a staggering LE 9.2 billion. The premiums paid to pension funds increased by 77%, wages and workers compensation increased at a rate of 10.4%, and cash support by 10.7 %.
