{"id":630028,"date":"2018-04-10T04:42:35","date_gmt":"2018-04-10T04:42:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/10\/budget-discussions-at-the-house-start-ahead-of-schedule\/"},"modified":"2018-04-10T04:42:35","modified_gmt":"2018-04-10T04:42:35","slug":"budget-discussions-at-the-house-start-ahead-of-schedule","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/10\/budget-discussions-at-the-house-start-ahead-of-schedule\/","title":{"rendered":"Budget discussions at the House start ahead of schedule"},"content":{"rendered":"

<\/a> BUDGET WATCH- Discussions on the FY2018-19 budget plan in the House of Representatives began almost a week ahead of schedule<\/strong> as the House Budget Committee kicked off its deliberations on Sunday, according to Al Mal<\/a>. From what we\u2019re seeing, the committee appears to view the bill favorably. Committee chair Hussein Eissa and deputy chair Yasser Omar showered praise on the government\u2019s plan to boost social welfare spending and raise commodity subsidy spending, saying the budget caters to lower income citizens. The FY2018-19 budget, which was introduced in the House last month<\/a>, allocates EGP 322 bn<\/a> to social welfare and protection programs and commodity subsidy spending.<\/p>\n

Some information is finally trickling from parliament on plans for energy subsidy cuts<\/strong>, as the Ismail Cabinet has been tight-lipped on the issue. Eissa refuted reports that the government is planning more than one fuel subsidy cut, saying that this would significantly impact inflation. Eissa did not state any figures. Members of the House Energy Committee also praised the Electricity Ministry\u2019s plan to postpone lifting electricity subsidies. While it had said it is planning to delay<\/a> the full elimination of subsidies on power bills to FY2020-2021 from FY2019-2020, MPs seem to think the phase-out will be completed in 2022. The committee\u2019s deputy chair Hamada Ghallab did extol the virtues of the electricity subsidy cuts, according to the newspaper.<\/p>\n

In other House news, parliament\u2019s Economic Committee is once again stomping its feet, calling for greater oversight on the unpopular \u201cprivate funds\u201d<\/strong> \u2014 state discretionary funds which have gained a reputation as slush funds. The committee is demanding the Finance Ministry show it accounts and cashflow of these funds, after it was revealed that a private fund belonging to the Cairo Governorate recorded a surplus of EGP 140 mn, sources said<\/a>. Finance Minister Amr El Garhy had said last year<\/a> that provisions for greater oversight of these funds will be included in amendments to the Auctions and Tenders Act.<\/p>\n","protected":false},"excerpt":{"rendered":"

BUDGET WATCH- Discussions on the FY2018-19 budget plan in the House of Representatives began almost a week ahead of schedule as the House Budget Committee kicked off its deliberations on Sunday, according to Al Mal. From what we\u2019re seeing, the committee appears to view the bill favorably. Committee chair Hussein Eissa and deputy chair Yasser […]<\/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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-630028","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"d71d2e7c-98cd-45d3-b3c6-f6d056aa48c6","order":"0","is_powered_by":true,"section_story_id":"c3b3ca4d-fd3d-41c2-93de-4e76c908b387","story_type":"1","photo_url":"","photo_position":"above","related_issue":[630009],"teaser":"","voice_url":""},"yoast_head":"\nBudget discussions at the House start ahead of schedule - 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\/2018\/04\/10\/budget-discussions-at-the-house-start-ahead-of-schedule\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget discussions at the House start ahead of schedule\" \/>\n<meta property=\"og:description\" content=\"BUDGET WATCH- Discussions on the FY2018-19 budget plan in the House of Representatives began almost a week ahead of schedule as the House Budget Committee kicked off its deliberations on Sunday, according to Al Mal. 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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":630510,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/23\/debate-on-2018-19-budget-resumes\/","url_meta":{"origin":630028,"position":1},"title":"Debate on 2018-19 budget resumes","author":"enterpriseam admin","date":"23 April 2018","format":false,"excerpt":"BUDGET WATCH- Committee-level debate of the FY2018-19 budget resumed yesterday at the House of Representatives, according to Al Mal. The House is looking to complete discussions on the budget and vote on it before the summer recess in July (and the start of the new fiscal year). 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Health and education get the lion\u2019s share of the new earmarks,\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":627599,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/06\/house-passes-fy2018-19-budget\/","url_meta":{"origin":630028,"position":3},"title":"House passes FY2018-19 budget","author":"enterpriseam admin","date":"6 June 2018","format":false,"excerpt":"The House of Representatives signed off on the FY2018-19 budget during yesterday\u2019s general assembly session, Reuters reports. The budget, which still needs to be accepted and signed into law by President Abdel Fattah El Sisi, targets a deficit of 8.4% of GDP and a primary deficit surplus of 2%. 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