{"id":561981,"date":"2021-04-28T04:00:19","date_gmt":"2021-04-28T04:00:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/on-the-dole\/"},"modified":"2021-04-28T04:00:19","modified_gmt":"2021-04-28T04:00:19","slug":"on-the-dole","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/on-the-dole\/","title":{"rendered":"On the dole"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Spending to tackle the fallout from covid-19 has exceeded the EGP 100 bn earmarked for a government <\/strong><strong>stimulus package <\/strong>announced at the onset of the pandemic, Finance Minister Mohamed Maait told <a href=\"https:\/\/bit.ly\/3vpz6Vr\">Al Arabiya<\/a>.<\/p>\n<p><strong>Where did we spend it?<\/strong> The bill has so far included:<\/p>\n<ul>\n<li>EGP 22 bn for healthcare<\/li>\n<li>EGP 10 bn in breaks on energy costs for factories<\/li>\n<li>EGP 10 bn for the tourism and hospitality industry<\/li>\n<li>EGP 8 bn in monthly stipends to day laborers, Maait said.<\/li>\n<\/ul>\n<p><strong>The government also had to ramp up spending on vaccine purchases<\/strong> in recent months, Maait added.<\/p>\n<p><strong>The government had <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6613be6-37d0-45fb-88db-887bc0feca4f\">forked out EGP 63 bn<\/a><\/strong><strong> by early June<\/strong>, spending the sum on staple commodities, industry support, and healthcare. Maait told Al Arabiya that that figure had gone up to EGP 90 bn by the end of the last fiscal year on 30 June.<\/p>\n<p><strong>Background: <\/strong>President Abdel Fattah El Sisi had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fec63e66-71d2-4779-91fb-5dd6ba414562\">allocated the EGP 100 bn stimulus<\/a> and bailout package, which amounted to nearly 2% of GDP, in late March to insulate the economy from the impact of covid-19 outbreak.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Spending to tackle the fallout from covid-19 has exceeded the EGP 100 bn earmarked for a government stimulus package announced at the onset of the pandemic, Finance Minister Mohamed Maait told Al Arabiya. Where did we spend it? The bill has so far included: EGP 22 bn for healthcare EGP 10 bn in breaks on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":561982,"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":[7206],"tags":[107,104,72,276,277,100],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-covid-19","tag-economy","tag-enterpriseam","tag-finance-ministry","tag-mohamed-maait","tag-policy","wpautop","entry"],"acf":{"mongo_id":"620c3497-e259-4997-b2b1-8225c8fc9aca","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/4\/294.jpg","photo_position":"above","related_issue":[561974],"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>On the dole - 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\/2021\/04\/28\/on-the-dole\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"On the dole\" \/>\n<meta property=\"og:description\" content=\"Spending to tackle the fallout from covid-19 has exceeded the EGP 100 bn earmarked for a government stimulus package announced at the onset of the pandemic, Finance Minister Mohamed Maait told Al Arabiya. 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The possibility of a second stimulus package, which would follow the EGP 100 bn allocated at start of the pandemic, has already been\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\/2020\/11\/178.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571356,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/10\/egypt-has-deployed-just-egp-40-bn-of-funding-from-the-egp-100-bn-stimulus-and-bailout-funding-maait-says\/","url_meta":{"origin":561981,"position":2},"title":"Egypt has deployed just EGP 40 bn of funding from the EGP 100 bn stimulus and bailout funding, Maait says","author":"enterpriseam admin","date":"10 May 2020","format":false,"excerpt":"The government has deployed just EGP 40 bn of the EGP 100 bn earmarked by the government to protect the economy against the covid-19 pandemic, Finance Minister Mohamed Maait said on Thursday, suggesting it has resources left to help cushion the blow to the economy. Some EGP 5.1 bn has\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\/2020\/5\/87.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559318,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/foreign-holdings-near-pre-covid-peak\/","url_meta":{"origin":561981,"position":3},"title":"Foreign holdings near pre-covid peak","author":"enterpriseam admin","date":"18 January 2021","format":false,"excerpt":"Foreign investment in EGP bonds has continued to rebound through the beginning of 2021, with total holdings now standing at USD 26 bn, Minister Mohamed Maait told Al Arabiya and CNBC in separate interviews yesterday. This is up from USD 23 bn at the end of November and is less\u2026","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\/2021\/1\/199.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568021,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/egypts-primary-surplus-at-egp-5-2-bn-in-4m2020-2021-maait\/","url_meta":{"origin":561981,"position":4},"title":"Egypt\u2019s primary surplus at EGP 5.2 bn in 4M2020-2021: Maait","author":"enterpriseam admin","date":"15 December 2020","format":false,"excerpt":"Egypt recorded a primary surplus of EGP 5.2 bn in 4M2020-2021, down from EGP 14.7 bn, Finance Minister Mohamed Maait said yesterday, according to a Cabinet statement. This is a touch lower than the EGP 5.5 bn surplus Maait cited in an interview with Al Arabiya last month. Maait had\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":574551,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/14\/dont-expect-a-tax-hike-despite-the-covid-induced-hit-to-state-revenues\/","url_meta":{"origin":561981,"position":5},"title":"Don\u2019t expect a tax hike despite the covid-induced hit to state revenues","author":"enterpriseam admin","date":"14 September 2020","format":false,"excerpt":"EXCLUSIVE- Don\u2019t expect a tax hike despite the covid-induced hit to state revenues: The government was left with a EGP 115 bn tax gap and a shortfall on other revenue of the same approximate magnitude in FY2019-2020 as a result of the economic fallout caused by the coronavirus pandemic, Finance\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\/2020\/9\/157.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=561981"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561981\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/561974"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/561982"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=561981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=561981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=561981"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=561981"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=561981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}