Cairo – Mubasher: Investments of the Egyptian government in fiscal year 2019/2020 budget grew 40% year-on-year, finance minister Mohamed Maait during a TV interview with local channel Sada El Balad.
Pensions item in the budget went up 15% to EGP 28.5 billion in FY19/20, while salaries item increased to EGP 31 billion, Maait added.
The growth of Egypt’s gross domestic product (GDP) is expected to reach 6% in FY19/20, the minister revealed.
Maait noted that the new budget increased the subsidies of bread and other goods by EGP 3.5 billion and added EGP 5 billion to Egyptian National Railways’ (ENR) allocations.
