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Sunday, 13 May 2018

Cabinet agrees to allocate additional EGP 2.6 bn to healthcare in FY2018-19 from other ministries’ surplus

BUDGET WATCH- The Ismail Cabinet agreed to allocate an additional EGP 2.6 bn to the Health Ministry’s investment budget for FY2018-19, Health Minister Ahmed Rady reportedly said on Thursday, Al Mal reports. The amount will be provided through existing surplus at other ministries, according to Rady, who did not provide additional details. House representatives had last week made repeated calls asking the government to increase spending on healthcare and  education.

In other news on the budget, the House Economics Committee concluded its review of the FY2018-19 budget for the agencies affiliated with the Trade and Industry Ministry and has concerns that the EGP 4 bn earmarked for export subsidies is insufficient, the newspaper also says. MP Mohamed Badrawy said that the government owes exporters at least EGP 7 bn in overdue subsidies. Meanwhile, the ICT Committee appears to have signed off on the ICT Ministry’s budget, while the House’s Budgeting Committee gave the Planning Ministry one week to revise some unspecified economic performance forecasts.

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