Cairo - Mubasher: The Egyptian House of Representative has officially passed the state budget for fiscal year 2018/2019 on Tuesday.
The budget is set to increase wages and pensions by around EGP 60 billion, with the aim to provide social protection for more than 15 million citizens while reducing fuel and electricity subsides, as the cabinet seeks to balance the budget and reduce deficit to 4.8%.
Finance minister Amr El-Garhy revealed that the tax revenues are expected to grow to EGP 1.4 trillion by 2022, and drive down the budget deficit below 4%.
