{"id":545938,"date":"2022-04-18T03:17:08","date_gmt":"2022-04-18T03:17:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/18\/house-planning-committee-to-review-2022-2023-draft-budget\/"},"modified":"2022-04-18T03:17:08","modified_gmt":"2022-04-18T03:17:08","slug":"house-planning-committee-to-review-2022-2023-draft-budget","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/18\/house-planning-committee-to-review-2022-2023-draft-budget\/","title":{"rendered":"House Planning Committee to review 2022-2023 draft budget"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>The House of Representatives<\/strong><strong> voted in plenary session yesterday to send <\/strong><strong>the draft FY 2022-2023 budget to the budget and planning committee<\/strong>, <a href=\"https:\/\/bit.ly\/3xv3HVS\">Youm7<\/a> reports.<\/p>\n<p><strong>The FY 2022-2023 budget was recently restructured to \u201creassess priorities\u201d<\/strong> after the Ukraine conflict shook global commodity markets and hit state finances. It now includes a combination of austerity alongside targeted spending increases to shore up the social safety net. The government currently sees the economy growing at a 5.5% clip in the coming fiscal year, after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69470760-13ca-4936-83f2-59c11fea41f7\">revising down<\/a> its GDP forecast from 5.7%.<\/p>\n<p><strong>Some budget targets have since been revised again<\/strong> as we withstand the global turmoil. The budget deficit is currently expected to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cf5f170a-c3e0-42d1-8129-7a001cbcfd69\">narrow to 6.2%<\/a> instead of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f5dcf6d3-746d-4f31-8660-5ea355a52108\">6.9%<\/a>, while the state is targeting a 1.3% primary surplus.<\/p>\n<p><strong>What\u2019s next?<\/strong> When all of the horse trading is done, ministries finish lobbying for new earmarks, and the House Planning Committee submits its report, the document will then go up for a vote at the House of Representatives\u2019 general assembly before the start of the new fiscal year. If the budget doesn\u2019t pass before 30 June, the current budget rolls forward to direct state spending until the new document is passed.<\/p>\n<p><strong>ALSO APPROVED BY THE HOUSE YESTERDAY-<\/strong><\/p>\n<ul>\n<li><strong>A new authority for airspace management:<\/strong> The House approved yesterday a draft bill to set up a new authority to regulate Egyptian airspace, <a href=\"https:\/\/bit.ly\/3OboIed\">Youm7<\/a> reported. The National Center for Airspace Management will be tasked with managing Egypt\u2019s airspace, providing navigational services, enhancing air safety, and training employees in the field.<\/li>\n<li><strong>A USD 28 mn development grant agreement with USAID: <\/strong>The grant will be spent on support for SMEs and improving technical and vocational education and training (TVET), according to an International Cooperation Ministry <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/382986670538426\">statement<\/a>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The House of Representatives voted in plenary session yesterday to send the draft FY 2022-2023 budget to the budget and planning committee, Youm7 reports. The FY 2022-2023 budget was recently restructured to \u201creassess priorities\u201d after the Ukraine conflict shook global commodity markets and hit state finances. It now includes a combination of austerity alongside targeted [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":545939,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7344],"tags":[528,101,104,72,9695,348,1737,274,187,117,501],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-545938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-watch","tag-aviation","tag-development-finance","tag-economy","tag-enterpriseam","tag-fy-2022-2023","tag-gdp","tag-general-budget","tag-house-of-representatives","tag-legislation-watch","tag-us","tag-usaid","wpautop","entry"],"acf":{"mongo_id":"c49f1cd0-4568-491c-a6cd-87d5e920b80c","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/4\/308.jpg","photo_position":"above","related_issue":[545932],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>House Planning Committee to review 2022-2023 draft budget - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/18\/house-planning-committee-to-review-2022-2023-draft-budget\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House Planning Committee to review 2022-2023 draft budget\" \/>\n<meta property=\"og:description\" content=\"The House of Representatives voted in plenary session yesterday to send the draft FY 2022-2023 budget to the budget and planning committee, Youm7 reports. The FY 2022-2023 budget was recently restructured to \u201creassess priorities\u201d after the Ukraine conflict shook global commodity markets and hit state finances. It now includes a combination of austerity alongside targeted [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/18\/house-planning-committee-to-review-2022-2023-draft-budget\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-18T03:17:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/308.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/18\/house-planning-committee-to-review-2022-2023-draft-budget\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/18\/house-planning-committee-to-review-2022-2023-draft-budget\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"House Planning Committee to review 2022-2023 draft budget\",\"datePublished\":\"2022-04-18T03:17:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/18\/house-planning-committee-to-review-2022-2023-draft-budget\/\"},\"wordCount\":289,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/18\/house-planning-committee-to-review-2022-2023-draft-budget\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/308.jpg?fit=%2C&ssl=1\",\"keywords\":[\"aviation\",\"development finance\",\"economy\",\"EnterpriseAM\",\"FY 2022-2023\",\"GDP\",\"general budget\",\"House of Representatives\",\"Legislation Watch\",\"US\",\"USAID\"],\"articleSection\":[\"LEGISLATION WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/18\/house-planning-committee-to-review-2022-2023-draft-budget\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/18\/house-planning-committee-to-review-2022-2023-draft-budget\/\",\"name\":\"House Planning Committee to review 2022-2023 draft budget - 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subsidy + social safety net spending, MPs are zeroing in on tax receipts: MPs at the House Planning and Budgeting Committee are skeptical that the government\u2019s forecasted tax revenues for the upcoming fiscal year are attainable, suggesting in a committee meeting yesterday that\u2026","rel":"","context":"In &quot;BUDGET WATCH&quot;","block_context":{"text":"BUDGET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/budget-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":582909,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/15\/growth-slows-in-2q-2022-2023\/","url_meta":{"origin":545938,"position":1},"title":"Growth slows in 2Q 2022-2023","author":"enterpriseam admin","date":"15 March 2023","format":false,"excerpt":"The economy expanded at a 8.3% clip in the same period last year","rel":"","context":"In 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Finance Minister Mohamed Maait and Planning Minister Hala El Said are expected to attend a committee meeting to address\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":584387,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/30\/cabinet-approves-fy-2023-2024-budget\/","url_meta":{"origin":545938,"position":3},"title":"Cabinet approves FY 2023-2024 budget","author":"enterpriseam admin","date":"30 March 2023","format":false,"excerpt":"The Finance Ministry has trimmed next year\u2019s growth outlook to 4.1%","rel":"","context":"In &quot;BUDGET WATCH&quot;","block_context":{"text":"BUDGET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/budget-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/678.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582148,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/govt-to-miss-deficit-debt-targets-on-higher-rates-import-bill\/","url_meta":{"origin":545938,"position":4},"title":"Gov\u2019t to miss deficit, debt targets on higher rates, import bill","author":"enterpriseam admin","date":"2 March 2023","format":false,"excerpt":"Egypt is now predicting a debt level of 93.0% of GDP by June 2023","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/Finance-Ministry-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547315,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/16\/spend-more-on-education-in-fy-2022-2023-says-senate\/","url_meta":{"origin":545938,"position":5},"title":"Spend more on education in FY 2022-2023, says Senate","author":"enterpriseam admin","date":"16 June 2022","format":false,"excerpt":"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. 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