Egypt: Egp 308.3 Billion Allocated to Economic Bodies in New Budget - Min.

Finance Minister Mohamed Maait said 308.3 billion pounds were earmarked to the economic bodies in the new budget to help them finance more investments to carry out national development projects.

In a statement by the Finance Ministry, Maait said economic bodies, totaling 57, are the pillars of economic activities in Egypt and they contribute to improving business climate in a way that serves national economy.

Thanks to the projects the country is now carrying out, Egypt became among the four countries that managed to achieve positive economic growth despite coronavirus pandemic, he added.

These economic bodies contribute 176.9 billion pounds to the State treasury in terms of taxes and duties, he added.

He said financial allocations to public investments in the new budget grew by 27.6% to hit 358.1 billion pounds to guarantee better services to citizens.

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