Arab Finance: The Egyptian cabinet has endorsed a draft resolution on the rationalization of government spending for the fiscal year of (FY) 2023/2024 amid the current foreign currency shortage, as per a statement.

The resolution applies to all government authorities included in the 2023/2024 budget.

However, investments approved by the Ministry of Planning and Economic Development are exempted from the budget cuts.

Additionally, the regulations stipulate that public entities shall restrict their business-related traveling unless in cases of extreme necessity and after obtaining the approval of the Prime Minister.

State bodies are also required to scale their revenues up to ease the pressure on the state budget.

Egyptian cabinet approves luxury tourist train deal with Italy’s Arsenale Updated 12/31/2025 2:53:00 PM

Cabinet grants golden license for New Alamein silicon project Updated 12/11/2025 9:24:00 AM

Cabinet approves Egypt’s accession to Green Middle East Initiative Updated 11/30/2025 10:12:00 AM

Cabinet grants golden license to Egyptian Soda Ash’s $680M project Updated 11/23/2025 8:57:00 AM

Cabinet greenlights Feerum Egypt’s establishment to localize grain silos production Updated 11/6/2025 10:29:00 AM