Egypt’s 20/21 budget biggest in history with LE1.71T expenses: Finance Min – Egypttoday

Egypt’s 20/21 budget biggest in history with LE1.71T expenses: Finance Min – Egypttoday

CAIRO - 30 March 2020: Egypt's draft budget of 2020/2021 fiscal year is the biggest in the country's history with expenses of 1.71 trillion and revenues of LE 1.3 trillion, according to Minister of Finance Mohamed Ma'it.. "Wages allocate LE 335 billion in the new budget with an increase of LE 34 billion or 11.3 percent, 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 percent of the wages for those who are subject to civil service law and 12 percent 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.. The minister also pointed out that LE 4 billion has been allocated to raise the tax exemption limit from LE 8,000 to LE 15,000 and reduce the job-earning tax brackets for all low- and middle-income groups.. Health allocations rise LE 23.4 billion to LE 95.7 billion in 20/21 draft budget, and education allocated LE 46.7 billion and LE 7.8