Minister of Finance, Mohamed Maait, affirmed the beginning of a new phase in the journey of construction and development with President Abdel Fattah el-Sisi to solidify the foundations of the new republic that meets the aspirations of the great Egyptian people.
The minister added, during the launch of the procedural guide for budgets of programs responsive to equal opportunities and gender equality, that the recent reforms undertaken by the Egyptian government to develop the economic situation help achieve stability and economic progress, complementing the general state budget with ambitious targets.
He mentioned that the targets are led by achieving a significant initial surplus of 3.5% of the GDP, reducing the total deficit to 6% in the medium term, and lowering the debt ratio to 80% by June 2027, especially with setting a maximum limit for the government's debt value in all its economic, service, administrative entities, and local authorities, which cannot be exceeded except in cases of national emergencies and necessity with the approval of the President, the Cabinet, and the Parliament.
Maait also pointed out the increase in spending allocations on health and education by more than 30%, as well as the increase in support and social protection allocations to alleviate the inflationary burdens on citizens.
