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Thursday, 16 June 2022

Spend more on education in FY 2022-2023, says Senate

The Senate wants the government to up its education spend in the coming fiscal year: The Senate Financial and Economic Affairs Committee has recommended the government allocate another EGP 2.5 bn to education in FY 2022-2023, Yasser Omar, deputy chair of the House Budget and Planning Committee, said yesterday. In its review of the budget and the socio-economic development plan, the committee recommended that another EGP 500 mn be allocated to the Education Ministry to give raises to elementary school teachers, and EGP 2.5 bn be given to the Higher Education Ministry to fund medical supplies for university hospitals, he said.

What the government is proposing: The draft budget would see healthcare spending rise 18% to EGP 128.1 bn, and the education allocation increase 12% to EGP 192.7 bn. Social protection programs will also receive more government support, with spending due to rise 4% to EGP 293.4 bn.

The Senate made further recommendations: The committee wants the government to keep foreign borrowing to a minimum, impose a cap on salaries and cut back on hiring foreign consultants. Debate over allocations to subsidies and social safety net programs dominated discussions, Omar said, without disclosing what the committee recommended.

REMINDER- The budget and the development plan will be discussed and voted on in the House next week.

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