Egypt’s budget in COVID-19’s era – Egypttoday

Egypt’s budget in COVID-19’s era – Egypttoday

"Wages allocate LE 335 billion in the new budget with an increase of LE 34 billion or 11.3%, compared to current fiscal year," the minister said, clarifying that the new budget aims to improve the wages of workers in the country and improve their conditions.. The increase in wages comes to pay periodic bonuses by 7% of the wages for those who are subject to civil service law and 12% of the basic salary for those who are not subject to civil service law, with a minimum of LE 75, and an additional incentive ranging from LE 150 to LE 375.. In previous statement, Finance Minister said that the new fiscal year 2020/2021 draft budget aims to maintain the greatest degree of financial stability while supporting economic activity by achieving a reduction of the total deficit to 6.3% of GDP and achieving a primary surplus that allows the path of reducing the debt of the budget.. According to Ma'it, Egypt's 2020/2021 draft budget aims to reduce public debt of GDP to 82.7% by end of June 2021, and to achieve a primary surplus of 2% during the coming fiscal year.. Ma'it clarified that Egypt's new budget targets an annual wage