“Finance”: 19.7% increase in total expenses within two months

5

Total expenditures in the state’s general budget increased by 19.7% to reach EGP 261 billion during (July-August) 2021, compared to EGP 218 billion during the same period in the previous fiscal year.

The Ministry of Finance indicated, in a report today, that wages and workers’ compensation expenses increased by 12.6% by about 6.6 billion pounds, to reach 59 billion pounds within two months, and increased spending on the purchase of raw materials by 1.2 billion pounds to reach 2.5 billion pounds, in light of the increase in spending. On purchasing medicines and spending on water and lighting.

She explained that spending on subsidizing food commodities rose to reach 8.6 billion pounds during the study period, and spending allocated to the treasury’s contribution to pension funds reached about 19 billion pounds within two months, and spending on social security benefits (including cash support for the Takaful and Karama programs) amounted to about 3.6 billion pounds. .

Spending on the purchase of non-financial assets (investments) increased by about 7.4 billion pounds, or 41.3%, to reach 25.3 billion pounds, which reflects interest in developing infrastructure and improving services provided to citizens.

The Finance attributed the remarkable increase in spending on direct investment (including customs duties) by 37%, by about 6.4 billion pounds, to the increase in spending on construction and the purchase of assets and equipment within the framework of the state’s orientations to develop infrastructure, where the value of construction reached 9 billion pounds, a growth of 54% over the previous fiscal year.

The value of investment in non-residential buildings amounted to about 38.7 billion pounds, a growth rate of 18.7% over the previous fiscal year, and the allocations for machinery and equipment amounted to about 5.5 billion pounds within two months.

She pointed out that spending on social protection increased by about 4.3 billion pounds, or 4.9%, to reach 91.8 billion pounds during the study period, compared to 87.6 billion pounds during the same period of the previous fiscal year.

Expenditure on the health sector increased by about 3 billion Egyptian pounds, or 30.3%, to reach 13.5 billion pounds, compared to 10.4 billion pounds, and spending on the education sector rose by 4.8 billion pounds, or 18%, to reach 31.3 billion pounds during the study period, compared to 26.5 billion pounds during the same period. from the previous fiscal year.

The Finance Ministry indicated the government’s continued efforts to take measures to rearrange public spending priorities and pay attention to increasing social spending, investing in human development, developing infrastructure and services provided to citizens.

a u a

The article “Finance”: 19.7% increase in total expenses within two months was written in Al Borsa newspaper.