{"id":598082,"date":"2019-05-14T03:31:39","date_gmt":"2019-05-14T03:31:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/14\/egypt-caps-fy2019-20-state-spending-at-egp-1-tn\/"},"modified":"2019-05-14T03:31:39","modified_gmt":"2019-05-14T03:31:39","slug":"egypt-caps-fy2019-20-state-spending-at-egp-1-tn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/14\/egypt-caps-fy2019-20-state-spending-at-egp-1-tn\/","title":{"rendered":"Egypt caps FY2019-20 state spending at EGP 1 tn"},"content":{"rendered":"

<\/a> EXCLUSIVE- Gov\u2019t caps FY2019-20 public spending at EGP 1 tn: <\/b>The government has placed a EGP 1.01 tn cap on public spending in FY2019-20 in a bid to hit its deficit- and debt-reduction targets, two government sources told Enterprise. The cap is equivalent to spending forecasts stated in the draft FY2019-20 budget<\/a>, excluding debt service payments. The move could include a drive for more centralized purchasing for civil service offices and a tweak to spending limits for individual ministries. The House of Representatives cannot pass a further spending bill unless \u201cabsolutely necessary,\u201d<\/b> the sources said.<\/p>\n

Context: <\/b>The move is part of a fiscal strategy that aims to slow annual public spending growth to 3.5% by FY2021-22 from the current 11.5%. It also targets increasing inflows into the government\u2019s coffers by 12-16% over the next three years. Cabinet has already greenlit the move as part of a package of \u201cfiscal correction measures\u201d to support economic reform, the sources confirmed. The government also recently placed<\/a> a USD 14.33 bn ceiling on foreign borrowing in the coming fiscal year.<\/p>\n

Budget targets: <\/b>The government is looking to shrink the budget deficit to 7.2% of GDP in FY2019-20, from 8.4% in the current fiscal year, and cut the primary budget surplus to 2%, according to the draft budget. Public debt, meanwhile, is forecast to reach 89% of GDP in the coming fiscal year, down from a projected 93% in FY2018-19. The government\u2019s debt control strategy<\/a> aims to reduce the debt-to-GDP ratio to 80-85% and the ratio of interest payments to 32% of GDP by FY2021-22.<\/p>\n","protected":false},"excerpt":{"rendered":"

EXCLUSIVE- Gov\u2019t caps FY2019-20 public spending at EGP 1 tn: The government has placed a EGP 1.01 tn cap on public spending in FY2019-20 in a bid to hit its deficit- and debt-reduction targets, two government sources told Enterprise. The cap is equivalent to spending forecasts stated in the draft FY2019-20 budget, excluding debt service […]<\/p>\n","protected":false},"author":1,"featured_media":598083,"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":[2653,7106,72,1318,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-598082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-budgeting","tag-debt","tag-enterpriseam","tag-fiscal-policy","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"358877f2-e756-407a-a854-e32668c2752c","is_powered_by":true,"section_story_id":"2d7832a7-3a74-4785-8947-95b033022af3","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/5\/750.jpg","photo_position":"above","related_issue":[598076],"teaser":"","voice_url":""},"yoast_head":"\nEgypt caps FY2019-20 state spending at EGP 1 tn - 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\/2019\/05\/14\/egypt-caps-fy2019-20-state-spending-at-egp-1-tn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt caps FY2019-20 state spending at EGP 1 tn\" \/>\n<meta property=\"og:description\" content=\"EXCLUSIVE- Gov\u2019t caps FY2019-20 public spending at EGP 1 tn: The government has placed a EGP 1.01 tn cap on public spending in FY2019-20 in a bid to hit its deficit- and debt-reduction targets, two government sources told Enterprise. The cap is equivalent to spending forecasts stated in the draft FY2019-20 budget, excluding debt service […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/14\/egypt-caps-fy2019-20-state-spending-at-egp-1-tn\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-14T03:31:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/5\/750.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\/2019\/05\/14\/egypt-caps-fy2019-20-state-spending-at-egp-1-tn\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/14\/egypt-caps-fy2019-20-state-spending-at-egp-1-tn\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt caps FY2019-20 state spending at EGP 1 tn\",\"datePublished\":\"2019-05-14T03:31:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/14\/egypt-caps-fy2019-20-state-spending-at-egp-1-tn\/\"},\"wordCount\":268,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/14\/egypt-caps-fy2019-20-state-spending-at-egp-1-tn\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/5\/750.jpg?fit=%2C&ssl=1\",\"keywords\":[\"budgeting\",\"debt\",\"EnterpriseAM\",\"fiscal policy\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/14\/egypt-caps-fy2019-20-state-spending-at-egp-1-tn\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/14\/egypt-caps-fy2019-20-state-spending-at-egp-1-tn\/\",\"name\":\"Egypt caps FY2019-20 state spending at EGP 1 tn - 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Public wages will account for EGP 294.9 bn of total spending, up from EGP 266 bn in the current fiscal\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\/1\/773.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602564,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/01\/finmin-releases-egypts-draft-fy2019-20-budget\/","url_meta":{"origin":598082,"position":1},"title":"FinMin releases Egypt\u2019s draft FY2019-20 budget","author":"enterpriseam admin","date":"1 April 2019","format":false,"excerpt":"The state\u2019s FY2019-20 budget is now with the House: The Finance Ministry sent yesterday its draft FY2019-20 budget (pdf) to the House of Representatives. The House needs to receive the draft at least 90 days before the start of the fiscal year on 1 July to have it signed into\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\/1\/662.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602984,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/11\/govt-to-increase-education-health-and-comms-spending-in-fy2019-20\/","url_meta":{"origin":598082,"position":2},"title":"Gov\u2019t to increase education, health and comms spending in FY2019-20","author":"enterpriseam admin","date":"11 April 2019","format":false,"excerpt":"EXCLUSIVE- Gov\u2019t to increase spending on health, education and financial inclusion next fiscal year: The draft FY2019-20 state budget is increasing the government\u2019s allocations for education and health and should meet the constitutionally mandated 10% of GDP spending requirement for these sectors, a government source told Enterprise. The budget for\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":602466,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/28\/cabinet-signs-off-on-egypts-fy2019-20-state-budget\/","url_meta":{"origin":598082,"position":3},"title":"Cabinet signs off on Egypt\u2019s FY2019-20 state budget","author":"enterpriseam admin","date":"28 March 2019","format":false,"excerpt":"CABINET WATCH- Council of Ministers signs off on FY2019-20 state budget: Cabinet approved yesterday the draft FY2019-20 state budget, Prime Minister Moustafa Madbouly, Finance Minister Mohamed Maait, and Planning Minister Hala El Said told reporters yesterday, according to Al Masry Al Youm. The ministers said spending priorities include improving 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\/2020\/10\/276.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598131,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/15\/govt-rolls-out-egp-2-5-bn-for-education-ministry-to-pay-off-urgent-loans\/","url_meta":{"origin":598082,"position":4},"title":"Gov\u2019t rolls out EGP 2.5 bn for Education Ministry to pay off urgent loans","author":"enterpriseam admin","date":"15 May 2019","format":false,"excerpt":"BUDGET WATCH- The Finance Ministry has agreed to a EGP 2.5 bn increase in the Education Ministry\u2019s FY2019-20 budget allocation to pay off \u201curgent\u201d 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\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":568336,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/27\/egypt-misses-revenue-targets-thanks-to-pandemic-but-expenses-are-down-too\/","url_meta":{"origin":598082,"position":5},"title":"Egypt misses revenue targets thanks to pandemic, but expenses are down, too","author":"enterpriseam admin","date":"27 December 2020","format":false,"excerpt":"Egypt recorded a budget deficit of EGP 462 bn \u2014 or 7.9% of GDP \u2014 in FY2019-2020, according to Finance Ministry figures (pdf) published this weekend. The overall deficit fell short of ministry forecasts of 7.2% of GDP at the end of the fiscal year, but is still an improvement\u2026","rel":"","context":"In "BUDGET WATCH"","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/598082","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=598082"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/598082\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/598076"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/598083"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=598082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=598082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=598082"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=598082"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=598082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}