{"id":599317,"date":"2019-06-25T04:00:06","date_gmt":"2019-06-25T04:00:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/"},"modified":"2019-06-25T04:00:06","modified_gmt":"2019-06-25T04:00:06","slug":"house-approves-fy2019-2020-state-budget","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/","title":{"rendered":"House approves FY2019-2020 state budget"},"content":{"rendered":"

<\/a>LEGISLATION WATCH- The FY2019-2020 budget has cleared the House.<\/b> The House of Representatives has approved the FY2019-2020 state budget<\/a>, which targets GDP growth of 6% and a budget deficit of 7.2%, Reuters reported<\/a>. The government will aim to reach a primary budget surplus of 2% and reduce public debt to 89% of GDP, with an eye to bringing that figure down to 80% by FY2021-2022. It will also aim to bring the unemployment rate down to 9.1% and sees population growth at 2.3%. The budget will see large fuel subsidy cuts which will reduce expenditure on petroleum products to EGP 52.96 bn, down from EGP 89.75 bn this fiscal year. Electricity subsidies are also expected to drop by 75% to EGP 4 bn, Bloomberg noted<\/a>.<\/p>\n

In other news from the House:<\/b><\/p>\n

Parliament OK\u2019s data-sharing agreement:<\/b> The House has finally greenlit an agreement<\/a> signed in 2016 between Egypt, Morocco, Jordan and Tunisia to improve electronic data sharing, Al Mal reported<\/a>. Finance Ministry representatives said that consultations with security agencies caused the legislation to be delayed for three years.<\/p>\n

Civil service looks set to get pension hike:<\/b> The House also approved<\/a> a draft law that would see payouts to pensioners rise 15% across the board and the minimum monthly pension jump to EGP 900 from a previous EGP 750, the local press reported<\/a>. The measure now requires input from Maglis El Dowla (the State Council), according to a separate press report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- The FY2019-2020 budget has cleared the House. 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 89% of GDP, with an […]<\/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":[72,274,2380,278],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-599317","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-house-of-representatives","tag-speed-round","tag-state-budget","wpautop","entry"],"acf":{"mongo_id":"0bee9ff3-4086-4a71-9fbc-0be56f34c244","is_powered_by":true,"section_story_id":"b2b44a36-c221-4940-89b2-832dba1a3b73","story_type":"1","photo_url":"","photo_position":"above","related_issue":[599308],"teaser":"","voice_url":""},"yoast_head":"\nHouse approves FY2019-2020 state 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\/25\/house-approves-fy2019-2020-state-budget\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House approves FY2019-2020 state budget\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- The FY2019-2020 budget has cleared the House. 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 89% of GDP, with an […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-25T04:00:06+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\/25\/house-approves-fy2019-2020-state-budget\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"House approves FY2019-2020 state budget\",\"datePublished\":\"2019-06-25T04:00:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/\"},\"wordCount\":234,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"House of Representatives\",\"SPEED ROUND\",\"state budget\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/\",\"name\":\"House approves FY2019-2020 state budget - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2019-06-25T04:00:06+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"House approves FY2019-2020 state budget\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"House approves FY2019-2020 state budget - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/","og_locale":"en_US","og_type":"article","og_title":"House approves FY2019-2020 state budget","og_description":"LEGISLATION WATCH- The FY2019-2020 budget has cleared the House. 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 89% of GDP, with an […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2019-06-25T04:00:06+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"House approves FY2019-2020 state budget","datePublished":"2019-06-25T04:00:06+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/"},"wordCount":234,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["EnterpriseAM","House of Representatives","SPEED ROUND","state budget"],"articleSection":["Speed Round"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/","url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/","name":"House approves FY2019-2020 state budget - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"datePublished":"2019-06-25T04:00:06+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/house-approves-fy2019-2020-state-budget\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"House approves FY2019-2020 state budget"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":602564,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/01\/finmin-releases-egypts-draft-fy2019-20-budget\/","url_meta":{"origin":599317,"position":0},"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":599181,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/20\/house-committee-approves-fy2019-2020-draft-budget\/","url_meta":{"origin":599317,"position":1},"title":"House committee approves FY2019-2020 draft budget","author":"enterpriseam admin","date":"20 June 2019","format":false,"excerpt":"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\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":602984,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/11\/govt-to-increase-education-health-and-comms-spending-in-fy2019-20\/","url_meta":{"origin":599317,"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":600845,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/12\/finmin-forecasts-spending-at-egp-1-5-tn-in-draft-fy2019-20-state-budget\/","url_meta":{"origin":599317,"position":3},"title":"FinMin forecasts spending at EGP 1.5 tn in draft FY2019-20 state budget","author":"enterpriseam admin","date":"12 February 2019","format":false,"excerpt":"EXCLUSIVE- FinMin\u2019s draft FY2019-20 state budget sees spending at EGP 1.5 tn: The draft FY2019-20 state budget forecasts government spending at EGP 1.5 tn, a senior government official tells us. 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":602626,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/02\/govt-revises-oil-price-forecast-to-usd-70-per-barrel-in-2019-20-budget-draft\/","url_meta":{"origin":599317,"position":4},"title":"Gov\u2019t revises oil price forecast to USD 70 per barrel in 2019-20 budget draft","author":"enterpriseam admin","date":"2 April 2019","format":false,"excerpt":"The government has revised downwards its oil price forecast for FY2019-20 to USD 70 per barrel, down from USD 74 per barrel, according to a Finance Ministry document (pdf) published earlier this week. Each USD 1 increase in the price of a barrel costs the Egyptian government EGP 2.3 bn,\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":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":599317,"position":5},"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 "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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599317","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=599317"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599317\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/599308"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=599317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=599317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=599317"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=599317"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=599317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}