Egypt to Allocate 1 Pct of GDP for Social Protection Programmes in 2017/18Source: www.export-egypt.com 3/26/2017, Location: Africa |
|
|
|
|
|
Egypt's GDP stood at EGP 2.7 trillion in the fiscal year 2015/16, according to the latest data of the Central Bank of Egypt
Egypt's finance ministry plans to allocate a part of the savings made from the government's ongoing economic reform plan to support social protection programmes, Minister of Finance Amr El-Garhy announced . In a statement emailed by the ministry, El-Garhy said that the allocations would represent one percent of Gross Domestic Product (GDP). Egypt's GDP stood at EGP 2.7 trillion in the fiscal year 2015/16, according to the latest data on the website of the Central Bank of Egypt (CBE). The country started a fiscal reform programme in July 2014 in an attempt to curb a growing state budget deficit, which registered 12.2 percent of GDP in fiscal year 2015/16, through cutting subsidies and introducing new taxes. El-Garhy said the reforms that would be implemented in the coming fiscal year 2017/18 would include more spending on social security pensions as well as healthcare, medication, low-cost housing, milk for infants and technical training for youth. Egypt’s total subsidy bill in the coming fiscal year (2017/18) is estimated at EGP 385 billion, up from EGP 285 billion in the current fiscal year, El-Garhy said that the bill includes food subsidies and social safety network initiatives Takaful and Karama. The Takaful and Karama programme, established by the government in early 2015, is a national social safety net programme aimed at protecting the poor through income support. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
