The public treasury paid the dues of the Insurance and Pensions Fund, which amounted to EGP 185 billion.
Egypt's general budget achieved a primary surplus of EGP 857 billion during FY2023/2024, compared to about EGP 164 billion in FY2022/2023, according to a statement by Minister of Finance, Ahmed Kouchouk during his meeting with Prime Minister, Mostafa Madbouly.
The Ministry of Finance met the various needs of the education sector, which amounted to about EGP 256 billion, compared to about EGP 230 billion in the original budget, Kouchouk added.
It also provided for the needs of the health sector, which amounted to about EGP 180 billion, compared to about EGP148 billion in the original budget.
The public treasury paid the dues of the Insurance and Pensions Fund, which amounted to EGP 185 billion.
It also paid all dues for supporting food supplies, with a value of EGP 133 billion, compared to about EGP 128 billion in the original budget.
He pointed out that the increase in the wages and salaries of workers in the budget agencies, and providing sufficient allocations for various support items and social protection programs, contributed to increasing expenditures at an annual growth rate of 37.4%.
The budget not only recorded a total deficit lower than the revised budget, amounting to approximately EGP 706 billion, but it also highlighted a significant reduction in the overall deficit in the general budget for FY 2023/2024.
The deficit for that year stood at around EGP 505 billion, a notable improvement compared to the previous fiscal year's deficit of approximately EGP 610 billion.
