{"id":569988,"date":"2020-03-15T04:21:18","date_gmt":"2020-03-15T04:21:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/15\/el-sisi-reviews-draft-fy2020-2021-budget\/"},"modified":"2020-03-15T04:21:18","modified_gmt":"2020-03-15T04:21:18","slug":"el-sisi-reviews-draft-fy2020-2021-budget","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/15\/el-sisi-reviews-draft-fy2020-2021-budget\/","title":{"rendered":"El Sisi reviews draft FY2020-2021 budget"},"content":{"rendered":"

<\/a> BUDGET WATCH- President Abdel Fattah El Sisi reviewed the FY2020-2021 draft budget <\/strong>with senior cabinet ministers yesterday, an Ittihadiya statement<\/a> said. Largely in line with previous estimates<\/a>, its projections include a primary budget surplus of 2%, a budget deficit of 6.2% of GDP, down from 7.2% in the current fiscal year, and reducing public debt to 80% of GDP by the end of the fiscal year.<\/p>\n

The government sees GDP growing at a 6% clip and expects unemployment to fall to 8% <\/strong>during the coming fiscal year, according a 2021 investment plan presented by Planning Minister Hala El Said.<\/p>\n

Don\u2019t be surprised if these figures change thanks to current events:<\/strong> As Finance Minister Mohamed Maait and Vice Minister of Finance Ahmed Kouchouk told us last week<\/a>, the government may need to rethink its economic growth and budget targets if the covid-19 crisis persists over the coming weeks and months.<\/p>\n

The government is also planning investment in the healthcare sector<\/strong> as part of its \"Nurseries and Families in Intensive Care\u201d initiative, to increase nurseries by 10%, child care services by 90%, and intensive care services by 80%, the statement said, without providing additional detail.<\/p>\n","protected":false},"excerpt":{"rendered":"

BUDGET WATCH- President Abdel Fattah El Sisi reviewed the FY2020-2021 draft budget with senior cabinet ministers yesterday, an Ittihadiya statement said. Largely in line with previous estimates, its projections include a primary budget surplus of 2%, a budget deficit of 6.2% of GDP, down from 7.2% in the current fiscal year, and reducing public debt […]<\/p>\n","protected":false},"author":1,"featured_media":569989,"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":[8572],"tags":[96,864,7106,928,72,569,4800,4802,3444,4801,2589,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-569988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-abdel-fattah-el-sisi","tag-budget-deficit","tag-debt","tag-employment","tag-enterpriseam","tag-finance-minister-mohamed-maait","tag-fy2020-2021-draft-budget","tag-nurseries-and-families-in-intensive-care","tag-planning-minister-hala-el-said","tag-primary-budget-surplus","tag-prime-minister-moustafa-madbouly","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"753cdb7e-9f0e-4653-a71d-daf5146d8140","is_powered_by":true,"section_story_id":"bc24c7bd-828e-46db-af66-b2eeb122a3d8","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/3\/171.jpg","photo_position":"above","related_issue":[569978],"teaser":"","voice_url":""},"yoast_head":"\nEl Sisi reviews draft FY2020-2021 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\/2020\/03\/15\/el-sisi-reviews-draft-fy2020-2021-budget\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Sisi reviews draft FY2020-2021 budget\" \/>\n<meta property=\"og:description\" content=\"BUDGET WATCH- President Abdel Fattah El Sisi reviewed the FY2020-2021 draft budget with senior cabinet ministers yesterday, an Ittihadiya statement said. Largely in line with previous estimates, its projections include a primary budget surplus of 2%, a budget deficit of 6.2% of GDP, down from 7.2% in the current fiscal year, and reducing public debt […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/15\/el-sisi-reviews-draft-fy2020-2021-budget\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-15T04:21:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/171.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\/2020\/03\/15\/el-sisi-reviews-draft-fy2020-2021-budget\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/15\/el-sisi-reviews-draft-fy2020-2021-budget\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"El Sisi reviews draft FY2020-2021 budget\",\"datePublished\":\"2020-03-15T04:21:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/15\/el-sisi-reviews-draft-fy2020-2021-budget\/\"},\"wordCount\":192,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/15\/el-sisi-reviews-draft-fy2020-2021-budget\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/3\/171.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Abdel Fattah El Sisi\",\"budget deficit\",\"debt\",\"employment\",\"EnterpriseAM\",\"Finance Minister Mohamed Maait\",\"FY2020\/2021 draft budget\",\"Nurseries and Families in Intensive Care\",\"Planning Minister Hala El Said\",\"Primary budget surplus\",\"Prime Minister Moustafa Madbouly\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/15\/el-sisi-reviews-draft-fy2020-2021-budget\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/15\/el-sisi-reviews-draft-fy2020-2021-budget\/\",\"name\":\"El Sisi reviews draft FY2020-2021 budget - 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The document makes explicit that the ministry will revisit its growth\u2026","rel":"","context":"In "Speed Round"","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":571397,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/11\/maait-signals-austerity-measures-if-covid-19-crisis-persists\/","url_meta":{"origin":569988,"position":1},"title":"Maait signals austerity measures if covid-19 crisis persists","author":"enterpriseam admin","date":"11 May 2020","format":false,"excerpt":"BUDGET WATCH- Austerity measures in the cards if crisis continues into FY2020-2021 -Maait: The government could cut back on spending in its FY2020-2021 budget if the covid-19 outbreak persists after July, Finance Minister Mohamed Maait said in a meeting with President Abdel Fattah El Sisi and Prime Minister Moustafa Madbouly\u2026","rel":"","context":"In "Speed Round"","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\/98.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":600141,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/21\/egypts-budget-deficit-shrinks-to-3-6-from-4-2-in-1h2018-19\/","url_meta":{"origin":569988,"position":2},"title":"Egypt\u2019s budget deficit shrinks to 3.6% from 4.2% in 1H2018-19","author":"enterpriseam admin","date":"21 January 2019","format":false,"excerpt":"Egypt\u2019s budget deficit shrank to 3.6% of GDP in 1H2018-19, down from 4.2% the previous year. The state treasury recorded a primary budget surplus of 0.4% of GDP, up from a deficit of 0.3% during the same period last year, Finance Minister Mohamed Maait said during a meeting yesterday with\u2026","rel":"","context":"In "Speed Round"","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":571283,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/06\/budget-deficit-could-widen-to-7-8-due-to-covid-19-maait\/","url_meta":{"origin":569988,"position":3},"title":"Budget deficit could widen to 7.8% due to covid-19 -Maait","author":"enterpriseam admin","date":"6 May 2020","format":false,"excerpt":"Budget deficit could widen to 7.8% due to covid-19 -Maait: Egypt\u2019s budget deficit could widen to 7.8% of GDP in FY2020-2021 if the covid-19 pandemic continues until the end of the year, Finance Minister Mohamed Maait warned yesterday. The government currently expects to narrow the deficit to 6.3% in FY2020-2021.\u2026","rel":"","context":"In "Speed Round"","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\/48.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570913,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/22\/govt-revises-downward-egypts-gdp-growth-for-next-fiscal-year\/","url_meta":{"origin":569988,"position":4},"title":"Gov\u2019t revises downward Egypt\u2019s GDP growth for next fiscal year","author":"enterpriseam admin","date":"22 April 2020","format":false,"excerpt":"The government has revised downward its target GDP growth for FY2020-2021 to 3.5% from 4.5%, said Planning Minister Hala El Said, according to a cabinet statement. Projections for the current fiscal year have also been amended to 4.2%, downfrom 5.1% as the pandemic continues to weigh on the economy. The\u2026","rel":"","context":"In "Speed Round"","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":560864,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/16\/minimum-wage-pension-hikes-what-to-expect-from-next-years-state-budget\/","url_meta":{"origin":569988,"position":5},"title":"Minimum wage, pension hikes + what to expect from next year\u2019s state budget","author":"enterpriseam admin","date":"16 March 2021","format":false,"excerpt":"The minimum wage for civil servants will be raised to EGP 2.4k from EGP 2k as of the next fiscal year on the instructions of President Abdel Fattah El Sisi following a review of the draft budget yesterday, according to an Ittihadiya statement. 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