The Egyptian government plans to increase its public spending by $634 million to support the national economy. The announcement was made this week by finance minister Mohamed Maait (pictured).

According to the official, these new investments will be allocated to “paying the debts of contractors and suppliers and improving the quality of services offered to the public.” The government wants to make the economy more resilient to the shocks caused by the new coronavirus.

The funds will help keep the production system running while applying preventive and precautionary measures. In the medium term, the authorities hope that this measure will also create new employment opportunities in the country.

Since the start of the covid-19 pandemic, the Egyptian government has announced several economic measures to address the crisis, including an EGP100 billion ($6.3 billion) stimulus package to mitigate the impact of the pandemic.

Egypt has recorded more than 2,500 cases, according to the African Union's latest assessment issued on 16 April 2020.

Moutiou Adjibi Nourou