Egypt’s welfare budget improved by 65% in 5 years
Tuesday, 06 August 2019 12:02
The money the Egyptian government pumps into social protection increased from EGP198.6 billion (about $12 billion) in FY2014-15 to EGP327.7 billion (about $19.8 billion) in 2019-20, the planning minister, Hala El-Saied (pictured) announced in a report. This makes an improvement by 65% over the 5-year period.
Between the two periods, Egypt dedicated a total of EGP1,300 billion (about $78.5 billion) for pro-poor programs including EGP103 billion for “Decent Life”; a program recently launched by President Abdel Fattah al-Sisi to give vulnerable populations a better life.
According to the report, all the welfare investments helped drop unemployment rate to 8.1% during the third quarter of FY2018-19. Inflation rate also shrunk to a bearable 8.9% in June 2019, against 34.2% in July 2017.
André Chadrak
Additional Info
- communiques: Non
- couleur: N/A
Live News
-
Banque Atlantique Togo Raised CFA12 Billion in 2024 with FAGACE’s Help
21:03
-
US Remittance Tax Could Weigh Heavily on African Economies
20:44
-
Orange Implements AI to Improve Capex, Energy Use, and Maintenance Efficiency
20:31
-
Cameroon, Morocco Agree to Boost Cooperation on E-Government
20:26
-
Manono Project: U.S. firm Kobold Signs Agreement in Principle with Kinshasa
19:54
-
Cocoa Grindings Fall Globally as High Prices Weigh on Demand
19:08
-
Egypt expands grid capacity to support green energy ambitions
18:58
-
Togo Initiates Consultations for Upcoming Agricultural Insurance Program
15:38
-
CEMAC Banks Demand Record Liquidity of CFA639 Billion After Rate Cut
14:57
-
Socapalm Distributes CFA1.7 Billion in Dividends to BVMAC Shareholders for 2024
14:48
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
Flutterwave gained a BCEAO license to operate in Senegal, expanding to 35 African countries. ...
In Africa, the private sector is widely seen as the main engine of industrialization and plays a cen...
President Paul Biya, 92, to seek eighth term in October 2025 election In power since 19...
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...
Highlights: • Kobold Metals signed an agreement in principle with the DRC government on July 17, 2025.• The deal includes the Manono lithium project,...
Highlights: • Global cocoa processing down across all major regions in Q2 2025• ECA: Europe’s grindings at lowest since 2020, Asia at lowest since...
Highlights: • Egypt targets 42% renewable energy share by 2030.• POWERCHINA to build 130-km high-voltage line signed on June 25.• National grid expansion...
Highlights: • EXIM Bank issues letter of intent for $150M to support Botswana's NexMetals• US eyes battery-grade nickel sulphates and cobalt from...
Ashenda is a vibrant traditional festival celebrated primarily in northern Ethiopia, particularly among the Tigray and Amhara communities, as well as in...
The Emerald Sea is a vast turquoise lagoon located in the northern part of Madagascar, just a few kilometers from the town of Antsiranana (formerly Diego...