BUDGET WATCH- The Finance Ministry has agreed to a EGP 2.5 bn increase in the Education Ministry’s FY2019-20 budget allocation to pay off “urgent” loans, House Planning and Budgeting Committee Chair Yasser Omar tells the local press. The two ministries will study making available EGP 8.5 bn for the ministry amid efforts to increase the sector’s allocation in the FY2019-20 draft budget. Earlier this month, the MP said the ministry was after an additional EGP 11 bn, which would bring the sector’s budget to EGP 110 bn the next fiscal year. A source had told us earlier this week that the government has placed a EGP 1.01 tn cap on public spending for the upcoming fiscal year.

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