The Egyptian Parliament finally approved the draft general budget and the social and economic development plan for the fiscal year 2023/24. The estimated value of uses in the budget is about EGP 4.349 trillion. While the estimated gross domestic product amounted to about 11.841 trillion pounds. The estimated value of the expenditures is about 2.991 trillion pounds, distributed over 8 items in the budget, the first chapter is wages, which captures allocations estimated at 470 billion pounds, and the second item relates to the purchase of goods and services, whose total financial allocations amount to about 139 billion pounds. According to the budget figures, government spending is set to increase by 34 percent on an annual basis in the fiscal year 2023/24, while debt service represents the largest single item of total spending.
Source (Al-Arabiya.net Website, Edited)
