Minister Kouchouk highlighted that the Citizen’s Budget report outlines the economic, developmental, and social priorities for the ongoing fiscal year.
Egypt raised the financial allocations for support, grants, and social benefits to EGP 635.9 billion in FY2024/2025, marking a 20.049% increase from EGP 529.7 billion in FY2023/2024. This information was shared by Minister of Finance Ahmed Kouchouk in the 11th edition of the Citizen’s Budget publication.
Minister Kouchouk highlighted that the Citizen’s Budget report outlines the economic, developmental, and social priorities for the ongoing fiscal year.
In detail, the Ministry of Finance is directing EGP 154.5 billion towards supporting petroleum products, EGP 134.2 billion for subsidized goods, and EGP 40 billion for social security, pensions, and Takaful & Karama in FY2024/2025.
This shows an increase from EGP 119 billion, EGP 127.7 billion, and EGP 31 billion, respectively, in FY2023/2024.
Furthermore, He detailed allocations of EGP 11.9 billion for social housing, EGP 3.5 billion for natural gas delivery to households, and EGP 18.4 billion for health insurance and medical treatment covered by the government in FY2024/2025, as compared to EGP 10.2 billion, EGP 3.5 billion, and EGP 14.1 billion in FY2023/2024.
Kouchouk also highlighted that 4.6 million citizens benefit from comprehensive health insurance, with EGP 2.4 billion earmarked for disabled individuals.
Additionally, EGP 15.4 billion is set aside for the General Authority for Healthcare, with EGP 8.4 billion sourced from the National Treasury.
Moreover, EGP 26.7 billion will be allocated to support health initiatives, increase medicine supplies, and address the shortage of medications that Egypt has experienced recently.
Minister Kouchouk also announced that EGP 150 billion will fund the second phase of the Decent Life national project, aiming to foster sustainable rural development.
This initiative is expected to cover 1,670 villages and benefit 20 million citizens.
Lastly, EGP 40.5 billion will be assigned to finance economic stimulus programs focusing on production and export sectors, with farmers’ subsidies amounting to EGP 657 million and around EGP 300 million in interest subsidies for modern irrigation loans.
