Arab Finance: The Egyptian government has increased the financial allocations for subsidies, grants, and social benefits in the current fiscal year’s (FY) budget to EGP 635.9 billion according to the Citizen Budget report released by the Ministry of Finance.

This includes EGP 154.5 billion for fuel subsidies, EGP 134.2 billion for subsidized commodities, and EGP 40 billion for the social protection program Takaful and Karama.

This is in addition to EGP 11.9 billion for social housing, EGP 3.5 billion to support natural gas supply to households, and EGP 18.4 billion for health insurance and treatment at the state’s expense.

Furthermore, a sum of EGP 40.5 billion was allocated to finance initiatives aiming at promoting economic growth, especially those supporting the industrial and export sectors.

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