{"id":599181,"date":"2019-06-20T04:04:34","date_gmt":"2019-06-20T04:04:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/20\/house-committee-approves-fy2019-2020-draft-budget\/"},"modified":"2019-06-20T04:04:34","modified_gmt":"2019-06-20T04:04:34","slug":"house-committee-approves-fy2019-2020-draft-budget","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/20\/house-committee-approves-fy2019-2020-draft-budget\/","title":{"rendered":"House committee approves FY2019-2020 draft budget"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a><b> LEGISLATION WATCH- House Budget committee approves FY2019-2020 draft budget: <\/b>The House of Representatives Planning and Budget Committee has approved the draft budget for the FY2019-2020 fiscal year and referred it to the general assembly to set a date for a vote, MP Yasser Omar <a href=\"https:\/\/alborsaanews.com\/2019\/06\/19\/1215694\">told the local press<\/a>. The House will meet on Saturday for final discussions before members cast their ballots, <a href=\"https:\/\/www.masrawy.com\/news\/news_egypt\/details\/2019\/6\/19\/1587320\/-%D8%A7%D9%84%D8%B3%D8%A8%D8%AA-%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D9%86%D9%88%D8%A7%D8%A8-%D9%8A%D9%86%D8%A7%D9%82%D8%B4-%D8%A7%D9%84%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D8%A9-%D9%88%D8%B9%D9%84%D8%A7%D9%88%D8%A9-%D8%A7%D9%84%D9%85%D9%88%D8%B8%D9%81%D9%8A%D9%86#sectionListing\">Masrawy reported.<\/a> Here\u2019s a recap of the figures that matter:<\/p>\n<ul>\n<li>GDP growth registering 6% by June 2020;<\/li>\n<li>Budget deficit of 7.2% of GDP, down from 8.4% in the current fiscal year;<\/li>\n<li>Primary budget surplus of 2%;<\/li>\n<li>Reducing public debt to 89% of GDP, with an eye to bringing that figure down to 80% by FY2021-22;<\/li>\n<li>Unemployment falling to 9.1% and population growth slowing to 2.3%.<\/li>\n<\/ul>\n<p><b>Education and health get some love: <\/b>The committee agreed that an additional EGP 1.5 bn goes to education, an additional EGP 1.9 bn goes to the health sector, an additional EGP 2.5 bn goes to higher education and an additional EGP 1 bn goes to the transportation sector, in addition to other smaller increases, Omar said. The increases in the allocations given to the education and health sectors come short of the <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/07\/education-ministry-wants-to-squeeze-state-coffers-for-an-additional-egp-11-bn-in-fy2019-20\/\">EGP 10 bn<\/a> and <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/08\/egypts-health-ministry-asks-for-increase-in-budget-allocation-for-fy2019-20\/\">EGP 27 bn<\/a> the ministries had asked for, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LEGISLATION WATCH- House Budget committee approves FY2019-2020 draft budget: The House of Representatives Planning and Budget Committee has approved the draft budget for the FY2019-2020 fiscal year and referred it to the general assembly to set a date for a vote, MP Yasser Omar told the local press. The House will meet on Saturday for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,274,180,2380,278],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-599181","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-house-of-representatives","tag-legislation","tag-speed-round","tag-state-budget","wpautop","entry"],"acf":{"mongo_id":"862ff266-a953-4357-9f13-539dea747e7f","is_powered_by":true,"section_story_id":"81c9eb15-2dd1-4d8c-8157-233a96656c45","story_type":"1","photo_url":"","photo_position":"above","related_issue":[599171],"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 committee approves FY2019-2020 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\/2019\/06\/20\/house-committee-approves-fy2019-2020-draft-budget\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House committee approves FY2019-2020 draft budget\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- House Budget committee approves FY2019-2020 draft budget: The House of Representatives Planning and Budget Committee has approved the draft budget for the FY2019-2020 fiscal year and referred it to the general assembly to set a date for a vote, MP Yasser Omar told the local press. The House will meet on Saturday for [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/20\/house-committee-approves-fy2019-2020-draft-budget\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-20T04:04:34+00:00\" \/>\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\/06\/20\/house-committee-approves-fy2019-2020-draft-budget\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/20\/house-committee-approves-fy2019-2020-draft-budget\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"House committee approves FY2019-2020 draft budget\",\"datePublished\":\"2019-06-20T04:04:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/20\/house-committee-approves-fy2019-2020-draft-budget\/\"},\"wordCount\":208,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"House of Representatives\",\"legislation\",\"SPEED ROUND\",\"state budget\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/20\/house-committee-approves-fy2019-2020-draft-budget\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/20\/house-committee-approves-fy2019-2020-draft-budget\/\",\"name\":\"House committee approves FY2019-2020 draft budget - 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The House of Representatives has approved the FY2019-2020 state budget, which targets GDP growth of 6% and a budget deficit of 7.2%, Reuters reported. The government will aim to reach a primary budget surplus of 2% and reduce public debt to\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":598644,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/30\/egypts-house-budgeting-committee-approves-egp-7-3-bn-in-fy2019-2020-additions\/","url_meta":{"origin":599181,"position":1},"title":"Egypt\u2019s House Budgeting Committee approves EGP 7.3 bn in FY2019-2020 additions","author":"enterpriseam admin","date":"30 May 2019","format":false,"excerpt":"BUDGET WATCH- House committee loosens state purse strings with EGP 7.3 bn of additional allocations in FY2019-2020 state budget: The House of Representatives\u2019 Planning and Budgeting Committee has allocated an additional EGP 7.3 bn across a number of sectors in FY2019-2020, committee sources said. The Health Ministry will receive an\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\/1\/662.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":599181,"position":2},"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 &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\/1\/662.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572660,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/05\/house-planning-committee-approves-egp-80-bn-overdraft-for-egypts-fy2019-2020-budget\/","url_meta":{"origin":599181,"position":3},"title":"House Planning Committee approves EGP 80 bn overdraft for Egypt\u2019s FY2019-2020 budget","author":"enterpriseam admin","date":"5 July 2020","format":false,"excerpt":"BUDGET WATCH- The House Planning and Budgeting Committee on Wednesday signed off on a EGP 80 bn overdraft for the FY2019-2020 state budget, Al Masry Al Youm reported. The overdraft was required to pay off the Electricity Ministry\u2019s EGP 102 bn debt to the Oil Ministry and another EGP 50\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":597826,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/06\/egypts-house-planning-committee-begins-discussing-fy-19-20-draft-budget\/","url_meta":{"origin":599181,"position":4},"title":"Egypt\u2019s House planning committee begins discussing FY 19-20 draft budget","author":"enterpriseam admin","date":"6 May 2019","format":false,"excerpt":"BUDGET WATCH- Parliament begins committee-level review of draft FY2019-2020 state budget: The House of Representatives\u2019 Planning and Budgeting Committee has begun discussing the draft FY2019-20 budget, according to local press reports. 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":570916,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/22\/house-approves-egp-10-bn-additional-provision-for-fy2019-2020-budget\/","url_meta":{"origin":599181,"position":5},"title":"House approves EGP 10 bn additional provision for FY2019-2020 budget","author":"enterpriseam admin","date":"22 April 2020","format":false,"excerpt":"LEGISLATION WATCH- House approves EGP 10 bn additional provision for FY2019-2020 budget: The House of Representatives\u2019 general assembly has approved the government\u2019s request to allocate an additional EGP 10 bn in the FY2019-2020 budget to help the state fight the covid-19 pandemic, according to Al Mal. 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