House of Representatives Approves FY21/22 Budget

Giving More to Your Wealth
15 Jun 2021

The House of Representatives has approved the government’s FY21/22 budget. Total expected expenditures were EGP1.80tn, while revenues were EGP1.37tn. Allocations for education were EGP388bn and EGP276bn for health. The allocation for wages was EGP361bn, an increase of 11%. Allocations for public investments grew by 28% to reach EGP358bn, while government subsidies were EGP321bn.

The goals of the budget are to achieve a budget deficit that represents 6.7% of GDP, as well as a 1.5% primary surplus. This is based on revenues rising by 22% while expenditures rising by only 14%. The increase in revenues is mainly driven by an 18% rise in tax collection. (Source: Egypt Today (English), Mubasher, al-Maal, al-Ahram, al-Masry al-Youm)

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