New Budget to Benefit Poor, Lower-Income BracketsSource: www.export-egypt.com 7/1/2014, Location: Africa |
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Finance Minister Hani Qadri also said the current economic situation needs a radical change that embraces a holistic approach in managing the national economy.
"Resources available should be redistributed to the benefit of the poor and lower-income brackets," he added. "This can be done by re-prioritizing public expenditures and phasing out the ineffective subsidy policies," he pointed out. He added: "There are various issues that must be handled over the next years, most notably reforming the pension system, sorting out inter-government financial entanglements, conducting comprehensive structural development for all State-owned services and productive assets." The minister said, "in order to achieve economic growth, the public expenditure on education, health and scientific research should be increased, in addition to restoring financial stability and controlling the budget deficit". He underlined the importance of widening economic bases in order to improve the people's living conditions and achieve social justice. |
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