Tuesday 18/March/2025 – 01:21 PM
Dr. Mustafa Madbouly, Prime Minister, met today at the government headquarters in the new administrative capital, Ahmed Kajuk, Minister of Finance, to review a number of financial performance indicators, in the presence of Yasser Sobhi, Deputy Minister of Finance, Majdi Mahfouz, Head of the Finance Sector at the Ministry of Finance, and Walid Abdullah, Head of the General Budget Sector at the Ministry of Finance.
The Prime Minister meets the Minister of Finance to review a number of financial performance indicators
The Prime Minister started the meeting by referring to the government’s continued work to target financial discipline, increase spending on the health and education sectors, and increase the allocations of social protection programs, explaining that today’s meeting comes to display a number of important indicators related to the financial performance of the period from July 2024 to February 2025, as well as the most prominent indicators of the budget of the new fiscal year.
During the meeting, the Minister of Finance reviewed the most important financial results for the period from July 2024 to February 2025, explaining that this period witnessed the highest value of the primary surplus to reach about 330 billion pounds, and tax revenues increased by 38.4% on an annual basis, which is the highest annual growth rate achieved in years.
The minister pointed out that during this period, the debt administration improved by distributing the burdens of interest payments over the fiscal year, as well as the rate of growth of investments funded from the treasury, in light of the state’s orientation towards arranging the priorities of spending and reviewing the public investment plan in light of the commitment to the ceiling of investment spending for the current fiscal year.
Ahmed Kajuk explained that spending on the health and education sectors, during this period, increased by 29%, and 24%, respectively compared to the same period of the previous fiscal year, and spending on the door of support, grants and social benefits, jumped 44% during the period from July 2024 to February 2025.
During the meeting, the Minister of Finance reviewed the most important axes and priorities of the next fiscal year budget 2025-2026, noting that the first axis is to advance economic growth and activity and provide special job opportunities by supporting confidence in the Egyptian economy, supporting the productive sectors and sectors of tourism and technology, and maintaining financial and economic stability through adhering to financial targets and reducing debt and its burdens, and helping to secure energy sources and fulfillment With the sector’s obligations, and the continued increase in allocations for social protection and human development and priority support programs.
In this context, the minister presented the most important financial targets in the budget of the new fiscal year, noting that the continuation of the initial surplus achievement, increased tax revenues, and increasing spending on the takaful, dignity, sectors of health programs or any other social protection programs.
During the meeting, Ahmed Kajuk made a presentation on the follow -up of the implementation of the reforms of the International Monetary Fund program, the approval of the disbursement of the fourth tranche and the preparation for the fifth review.
