Egyptian Finance Minister Mohamed Maait confirmed that the government continues to fulfill presidential mandates, constantly working to reduce the burden on citizens.
The Minister of Finance said that the state is working to provide the necessary funds to meet the basic needs of citizens, adding that the state bears the maximum possible negative consequences of inflation imported from abroad.
He explained that the budget is able to fulfill all its obligations to the administrative authorities and international benefits in accordance with the established deadlines.
The finance minister added that the Egyptian economy remains resilient in the face of global challenges, stressing that the state will leave no room for improvement in people’s living conditions and living standards.
He said the priority is to maximize our manufacturing capabilities to meet our needs locally and keep import costs as low as possible.
He pointed out that £376.5bn has been set aside in the new budget for public investment to complete priority development projects.
Also, £356 billion was allocated for support and social protection, including £90 billion for food and daily bread.
Egypt has also provided £22bn for the Solidarity and Karama program and £7.8bn to fund social housing initiatives, the minister said.
£3.5 billion has been allocated to bring natural gas to the homes of some 1.2 million housing units.