Finance Minister Hany Qadry:

16% increase in social services expenditures in new budget

GMT 05:37 2015 Friday ,01 May

Arab Today, arab today 16% increase in social services expenditures in new budget

Finance Minister Hany Qadry
Cairo - Arab Today

Minister of Finance Hany Qadry said Thursday net expenditures on social services in 2015-2016 budget hit 296 Bln pounds, 16 pct higher than levels in the current financial year and the highest in 20 years.

In a press conference, Qadry said the new budget allocates 435 Bln pounds for social programs, including 140 Bln pounds in salaries for service providers, teachers included.

He noted that the energy subsidy rationalization had a positive impact on the budget that reflected on the social programs' allocations increase.

Tax return income hit 17 Bln pounds till Wednesday, including 4 Bln pounds of yesterday's income, he said.

There is 3 pct increase in tax return compared to the numbers of the past year, he concluded.
Source: MENA


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