House approves gov’t budget account for 2017-18

The House of Representatives has given its final nod to a government-proposed draft bill that finalizes the results of its FY 2017-18 budget, Al Ahram reported. The legislation puts expenses at EGP 1.244 tn, revenues at EGP 821 bn and loans at EGP 700 bn. Final results also show the government spent EGP 240 on salary and benefits for civil servants, EGP 53.88 bn on commodities and EGP 437 bn on debt service. It also spent EGP 329 bn on subsidies, grants and other social programs.