The Egyptian Parliament recently approved the draft law on the general state budget for the 2024/2025 financial year. This decision, taken during a plenary session, reflects the economic and social challenges Egypt faces and the efforts made to respond to them.
The total budget for the 2024/2025 financial year amounts to approximately 5.5 trillion Egyptian pounds, a significant increase compared to the current year’s budget, which amounted to approximately 3.4 trillion Egyptian pounds. Egyptian books. This increase highlights the need to meet the growing needs of the population and address current economic challenges.
Finance Minister Mohamed Maait underlined the government’s commitment to mitigating the burdens on citizens and coping with the effects of the wave of inflation affecting the country. He also responded to criticism leveled by some MPs over the draft budget, highlighting the major challenges Egypt faces, such as overpopulation and limited resources.
Maait highlighted the major challenges facing Egypt, including the overpopulation crisis and the effects of the COVID-19 pandemic. He expressed the government’s desire to improve the living conditions of the population while preserving the financial security of the country. However, he raised the possibility of allocating additional resources to key sectors such as health and education.
The approval of the budget for the 2024/2025 financial year marks an important step in addressing the economic and social challenges facing Egypt. It is essential that the government strikes the right balance between meeting the needs of the population and preserving the country’s financial stability to ensure a prosperous future for all Egyptians.