About 1 billion pounds will be allocated for scientific research in FY 2015/2016 budget, announced Scientific Research Minister Sherif Hammad.
The new budget will contribute to solving the problems facing the Egyptian society and meeting the needs of the citizens.
The budget allocated to the Science Technology Development Fund (STDF) and Scientific Research Academy represents 70 % of the ministry's budget, he added in statements to MENA Sunday.
As part of the new strategy adopted by the ministry, the STDF's budget was increased from 300 to 500 million pounds, he said, adding that the fund of the competitive projects was increased this year from 250 to 350 million pounds.
The STDF is considered the biggest governmental funding body for research projects and contributes to supporting the national economy.
Regarding the budget allocated to the Scientific Research Academy, the minister said that the budget was increased to reach 195 million pounds during this year compared to 150 million pounds last year.