Back to the complete issue
Thursday, 2 March 2017

Universal Healthcare likely not to go to House before June

Is the Universal Healthcare Act coming in 2H2017? The House of Representatives will not be seeing the Universal Healthcare Act that Health Minister Ahmed Rady had promised to deliver early in 2017 before June, sources close to the matter tell Al Borsa. Policymakers are delaying the bill because they worry about the cost of implementing the program after the wave of inflation that has gripped the country since the act was first mooted. Government officials are estimating that implementing the act would cost state coffers some EGP 130-140 bn, up from an earlier estimate of EGP 90 bn. The cost would be paid in part through a new tax: Employers would be required to pay the equivalent of 3% of each employee’s salary into a healthcare funds and deduct a further 1% of each staff member’s pay cheque. Instead of raising those rates, the government is reportedly looking at raising taxes on cigarettes, alcohol and automobiles.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.