EBRD extends $ 21.3 m loan to Red Sea wind energy farm in Egypt
The European Bank for Reconstruction and Development (EBRD) is supporting the development and sustainability of ...
Egypt’s social protection allocations hit EGP 550 bn in 2023-2024 FY – min.
Finance Minister Ahmed Kouchouk said Egypt’s social protection allocations hit EGP 550 billion in the 2023-2024 FY, rising almost the double compared to 2020-2021.
He noted that EGP 500 billion was earmarked to the first and second stages of the national project of Decent Life which is meant to improve the lives of half of the Egyptians.
Allocations for Takaful and Karama pension recorded about EGP 35 billion, he said during a press conference on the 2023-2024 FY.
He noted that spending on social protection was up by 20 percent, education by 25 percent, health by 24 percent.
He added that subsidies to supply commodities ratcheted up to EGP 133 billion, while Takaful and Karama pensions recorded EGP 35 billion.
He added that about EGP 10.2 billion was earmarked for social housing program for low-income strata.
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