Momtaz al-Saeed: Social Justice among Budget Priorities

Finance Minister Momtaz al-Saeed said on 4/6/2012 in his report that the draft budget took into consideration mitigating poverty level, improving the standards of living, reaching a 4 percent growth rate, dealing with unemployment, creating more job opportunities and including two allowances for civil servants by no more than 30 percent as of July 1, 2013.

In his statement before the parliament, Saeed said the new state budget aimed at achieving better growth rate in the coming fiscal year as Egypt is passing through delicate economic stage.

Saeed stressed that the new state budget 2012-2013 was estimated at LE 635.4 billion, with an increase of LE 41 billion over the previous one. Saeed said expenditure in the new budget is LE 533.7 billion, including LE 136.6 billion for wages and LE 113 billion for subsidies and social benefits.