Coronavirus budget

Coronavirus budget

A new fiscal year has begun with challenges that are hard to quantify. While it is cliché to say that this is the biggest budget ever, this year may really prove significant in every way, given the challenges posed by the fallout from the coronavirus pandemic. 

The state budget for the fiscal year 2020-2021 is estimated at LE2.2 trillion, with some LE1.7 trillion in expenses, an increase of around LE139 billion on last year's budget. 

The first thing that stands out is the greater allocations to health and education and higher education. Combined they will receive almost LE683 billion, up from LE545 billion in last year's budget. The new budget meets Egypt's 2014 constitution stipulation that the state allocate 10 per cent of GDP to the health and education sectors, as Egypt's Minister of Finance Mohamed Maait has said.

The additional health spending was a must in these trying times. As Maait indicated, the new Health Ministry budget was necessary to help fight the coronavirus, adding that the government has done its best to give all the necessary funding to this vital sector.

Among the outstanding increases this year is that of investment. Government investments are slated to reach around