Cairo – Mubasher: The Egyptian state treasury has paid EGP 33 billion for pension funds during the first quarter of fiscal year 2019/2020, the finance minister Mohamed Maait said.
The total paid amount represents 0.56% of the country’s gross domestic product (GDP), Maait added in a statement released by the cabinet on Tuesday.
The payment process comes in line with the settlement agreement between the state treasury and pension funds for the payment of a total of EGP 1.363 trillion over seven years.
