Minister of Finance Mohamed Maait stressed that the State was not and will not be late in fulfilling its internal and external obligations despite the harsh conditions and global crises.
The minister made the remarks as he reviewed the final accounts of the 2022/2023 budget at a session of the House of Representatives.
Maait said the final accounts of the 2022/2023 fiscal year reflect the State’s interest in expanding the social protection network; as actual spending on subsidies increased by 50.9 percent, including a 34-percent rise in actual spending on the social protection sector.
The volume of spending on wages grew 15 percent in the past fiscal year, hitting EGP 412.5 billion, the minister added.
Minister Maait noted that the government is committed to continuously improving wages with a view to reducing the burden on citizens as much as possible.