عاجل..وزير المالية : الموازنة الجديدة تعكس الأولويات الرئاسية لتخفيف الأعباء عن المواطنين
We aim to achieve a first surplus of 591.4 billion pounds, at a rate of 3.5% of the estimated domestic product for the next fiscal year
Increase in public expenditures in the fiscal year 2024/2025 to reach 3 trillion and 870 billion pounds by about 29% compared to the current fiscal year
Fulfilling the constitutional eligibility rates for health is 496 billion pounds, pre-university education is 565 billion pounds, higher and university education is 293 billion pounds, and scientific research is 140.1 billion pounds.
Increasing wage allocations to 575 billion pounds, compared to 494 billion pounds in estimates for the current fiscal year
Investment allocations increased to 496 billion pounds, but 44% of them were self-financed and had no effect on increasing the budget deficit
Setting a maximum of one trillion pounds for public investments for all state agencies and institutions, without exception for any party, during the next fiscal year
Dr. Mohamed Maait, Minister of Finance, confirmed that the draft budget The new one is more aware and responsive to the successive shocks whose effects we have been witnessing over the course of more than four years since the spread of the Corona epidemic, and even the international and regional geopolitical tensions with the outbreak of war in Europe and Gaza, and the recent unrest in the Red Sea region, in a way that is evident in rearranging priorities and raising the efficiency of public spending. ; In line with the procedures for reforming and developing Egypt’s economic path, so that the budget figures reflect balanced and integrated economic and development policies and objectives that deal with the challenges we face with a deep consensual vision and translate national action priorities during the next phase announced by President Abdel Fattah El-Sisi at the beginning of a new presidential term. /p>
He explained that there are four basic pillars of the new budget, which are: maintaining the continued sustainability of financial discipline, reducing government debt, and prolonging the life of the debt, especially with the beginning of recovery from the effects of the current economic conditions. .. and advancing social protection efforts and improving the standard of living of citizens to deal with the negative effects of the inflationary wave… and focusing on continuing to advance human development efforts in its two axes: health and education… and supporting and supporting economic activity, especially the productive sectors “industry and agriculture”. And export.
The Minister added, in the financial statement of the general budget for the year 2024/2025, which he delivered before the House of Representatives, that the new draft budget takes into account the required balance between alleviating the inflationary effects that it suffered Including citizens over the past two years, meeting development needs… and maintaining financial discipline; Taking into account that the Egyptian economy faces many challenges, which focus on: the impact of public revenues; As a result of the slowdown in economic activity and international and regional conflicts that affected the growth rates of some economic activities such as tourism, production, exports, Suez Canal revenues and foreign investment… and an unprecedented increase in expenditures to deal with the negative effects of violent economic shocks and mitigate their inflationary consequences… through rapid intervention with exceptional packages for the most targeted social protection. To support low- and middle-income families… and to support the most affected productive and export sectors. The minister confirmed that the budget for the next fiscal year witnessed an increase in public expenditures by about 29% to reach 3 trillion and 870 billion pounds, representing 22.6% of the domestic product for the next fiscal year, compared to the results expected by the end of June 2024.
 
Explaining that the constitutional entitlement rates for health and education have been met, as allocations for health amounted to 496 billion pounds, pre-university education 565 billion pounds, higher and university education 293 billion pounds, and scientific research 140.1 billion pounds.
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The minister indicated that wage allocations had increased to 575 billion pounds, compared to 494 billion pounds, to accommodate the latest package scheduled for state workers, which included raising the minimum wage by 50% to reach 6 Thousands of pounds per month, and increasing the wages of workers in the state and economic bodies with a minimum ranging from 1,000 pounds to 1,200 pounds, according to the job grade, as the disbursement of the periodic bonus to those addressed by the Civil Service Law was accelerated in March 2024 by 10% of the job wage and 15% of the basic wage. For those not addressed, with a minimum of 150 pounds, at a total cost of 11 billion pounds, and disbursing an additional incentive starting from 500 pounds for the sixth grade and increasing by 50 pounds for each grade, reaching 900 pounds for the excellent grade, and allocating 6.6 billion pounds to appoint 120,000 members of the medical professions and teachers. And employees of other administrative agencies, and an additional increase in the wages of teachers in pre-university education was approved, ranging from 325 pounds to 475 pounds, and an additional increase as well For faculty members and their assistants at universities, institutes, and research centers, and another additional increase for members of medical professions and nursing staff ranging from 250 to 300 pounds in risk allowance for medical professions, an increase of up to 100% in night and overnight stay allowance, and an increase in the tax exemption limit for all state employees in the government and the public and private sectors. By 33%, from 45 thousand pounds to 60 thousand pounds, with a total annual cost of 5 billion pounds.
The minister added that 635.9 billion pounds were allocated for support, grants and benefits. Social services compared to 532.8 billion pounds, expected estimates for the fiscal year 2023/2024, with a growth rate of 19.3%, including: allocating 154.5 billion pounds to support petroleum products compared to 119.4 billion pounds in the current fiscal year budget, an increase of 35.1. One billion pounds, at a rate of 29.4%, 134.2 billion pounds for food supplies, and 40 billion pounds for social security, solidarity, and dignity pensions, an increase of more than 9 billion pounds over the current fiscal year’s budget, and 11.9 billion pounds for social housing, and supporting the delivery of natural gas to homes by about 3.5 billion pounds, 18.4 billion pounds for health insurance, medicines, and treatment of those who are unable at state expense, 2.4 billion pounds to support comprehensive health insurance for those who are unable, and 15.4 billion pounds for the General Authority for Health Care, of which 8.4 billion pounds are funded by the treasury. Public support, continued support for health initiatives, and increased allocations for medicines and medical supplies to 26.7 billion pounds, pointing out that 214.2 billion pounds to fully pay the treasury obligations to the National Authority for Social Insurance, bringing the total amount transferred to the National Authority for Social Insurance by the end of June 2025 to one trillion and 116 billion pounds. The Minister referred to financing programs to stimulate economic activity, especially supporting the industrial sector and export activities, and other initiatives with a total of 40.5 billion pounds, including: 23 billion pounds to continue to quickly recover export burdens, and to continue bearing the financial burdens resulting from reducing electricity prices for the industrial sector. At an annual cost of 6 billion pounds, it carries the value of the interest subsidy in the financing facilities initiative for the productive sectors “industry and agriculture.” About 8 billion pounds, in addition to 1.5 billion pounds in the value of cash incentives for medium, small and micro projects and half a billion pounds in support of the automobile industry strategy, and the treasury continuing to bear on behalf of manufacturers and investors the value of real estate taxes on buildings used in carrying out industrial activities at about 1.5 billion pounds. And supporting farmers with an amount of 657 million pounds, in addition to supporting modern irrigation benefits with about 300 million pounds.
The minister added that investment allocations are expected to rise to 496 billion pounds, compared to 334 billion pounds. In the updated estimates for the current fiscal year, 44% of these investments are self-financing, and depend on providing self-financing for them and have no effect on increasing the budget deficit, as a maximum of one trillion pounds has been set for public investments for all state agencies and institutions without exception for any party during the fiscal year. Next.
The minister said that the total budget deficit for the next fiscal year is expected to reach about 1.2 trillion pounds, at 7.3% of the domestic product, according to updated estimates. The total deficit at the end of the current fiscal year will be 555 billion pounds, at a rate of 4% of the gross domestic product. We aim to achieve a first surplus of 591.4 billion pounds, at a rate of 3.5% of the estimated domestic product for the next fiscal year, compared to a first surplus of about 805.1 billion pounds expected by the end. The current fiscal year is 5.75% of domestic product; Taking into account the impact of collecting $12 billion, representing 50% of the revenues of the Ras El Hekma City Development Project for the public treasury, which is an exceptional non-recurring resource.
The Minister added, Public revenues in the state’s general budget for the new fiscal year amount to 2.6 trillion pounds, representing 15.4% of the domestic product, an increase of 8.5% over the expected estimates in the current fiscal year, and we aim for tax revenues to grow by about 30.5% to reach more than From 2 trillion pounds; This reflects mechanization efforts to raise the efficiency of tax administration, expand the tax base, and expand the collection of taxes due on e-commerce, especially global platforms that are not resident in Egypt, as well as international taxes on multinational companies, pointing out that we aim to collect non-tax revenues from various sources amounting to about 599. 6 billion pounds.
The Minister confirmed that we are working on implementing a specific strategy, more targeted to quickly start reducing the debt rate of the state’s general budget agencies to less than 80% of the gross domestic product by June 2027. The Council of Ministers has set the debt ceiling for the state’s general budget agencies in the new year at 15.1 trillion pounds, at 88.2% of the domestic product, compared to 96% in the fiscal year 2022/2023, and we expect 90% by the end of June 2024. Pointing out that this “ceiling” cannot be exceeded. Except in national imperatives and cases of necessity with the approval of the President of the Republic, the Council of Ministers, and the House of Representatives.
The minister added that we are working to improve debt management and reduce the risks related to refinancing by reducing the deficit. The budget, by developing the state’s resources while rationalizing spending, maintaining an increasing primary surplus, recording high growth rates, and directing half of the revenues from the “offerings” programme. To begin reducing the government’s debt and its service burdens, directly, and to reduce the rates of increasing interest payments by following a policy of diversifying sources of financing between internal and external instruments and markets, in addition to reducing financing needs that consist of the deficit, prolonging the life of the debt after interest rates improve, and setting a “ceiling” ; For the guarantees issued by the Ministry of Finance, and monitoring the volume of sovereign guarantees issued, and the required guarantees due to the potential obligations they pose on the state’s general budget, as well as working to review all the required guarantees and negotiating their terms… while working to reduce the balance of sovereign guarantees to the gross domestic product starting in the fiscal year. Next. The Minister stressed that we are working to improve the state’s public financial indicators by creating a “general government” budget. Which includes the revenues and expenses of all 59 public economic bodies, and the resources and uses of the state’s general budget from the administrative apparatus, local administration, and public service bodies; In a way that reflects the actual reality of economic activity and the true capabilities of the Egyptian economy, in a decisive step that we took together: the government and the House of Representatives, on the path to restructuring the state’s public finances, while creating the necessary regulatory and legislative mechanisms, leading to improving transparency regarding the activities of economic bodies, and enhancing our ability To monitor and improve its financial performance, and estimate the volume of public investment, the volume of indebtedness of all state agencies and their service burdens, as of the draft budget for the next fiscal year, in a manner consistent with internationally accepted statistical rules and foundations in publishing financial data and indicators for different countries.
The Minister explained that the total expenses of the “general government” It amounts to about 6.6 trillion pounds, and its revenues are about 5.3 trillion pounds for the new fiscal year “after excluding all mutual budgetary relationships between the state’s general budget and the budgets of the 59 public economic bodies.” The percentage of tax revenues amounts to 38.2% of the total revenues of the general government and 11.8% of the gross domestic product, and the percentage of non-tax revenues amounts to 61.8% of the total revenues of the general government and 19.2% of the gross domestic product.
The primary surplus of the state’s general budget is 3.5% of the gross domestic product, while the primary surplus of the general government budget is 3.7% of the gross domestic product, and the total deficit of the state’s general budget is 7. 3% of the GDP, while the total deficit of the general government budget is 7.7% of the GDP, and the total state budget apparatus in the new year amounts to 15.1 trillion pounds, representing 88.2% of the GDP compared to 96%. % in the fiscal year 2022/2023, while the total debt of the general government of the state to the gross domestic product is 96.4%, as the Council of Ministers set the ceiling for the debt of the general government “budget agencies and public economic bodies.” To be 16.4 trillion pounds, representing 96.4% of the gross domestic product, in a way that reflects the state’s efforts to establish the principle of “budget comprehensiveness.” Which helps us have a greater ability to deal more cautiously in the face of internal and external challenges, reiterating that it is not possible to exceed the “general government debt ceiling.” There is no general budget debt ceiling except in national imperatives and cases of necessity with the approval of the President of the Republic, the Council of Ministers, and the House of Representatives.
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