{"id":649708,"date":"2017-03-07T04:38:03","date_gmt":"2017-03-07T04:38:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/07\/expenditures-on-the-fy2017-18-budget-may-surpass-egp-1-tn-for-the-first-time\/"},"modified":"2017-03-07T04:38:03","modified_gmt":"2017-03-07T04:38:03","slug":"expenditures-on-the-fy2017-18-budget-may-surpass-egp-1-tn-for-the-first-time","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/07\/expenditures-on-the-fy2017-18-budget-may-surpass-egp-1-tn-for-the-first-time\/","title":{"rendered":"Expenditures on the FY2017-18 budget may surpass EGP 1 tn for the first time"},"content":{"rendered":"

<\/a> Expenditures on the FY2017-18 budget may surpass EGP 1 tn for the first time<\/strong>, Al Ahram<\/a> reports, citing unnamed Finance Ministry sources. According to Deputy Finance Minister Mohamed Maait, the increase in the budget is due in large part to fulfilling the constitutional requirement on health and education spending. The EGP float also drove up the cost of imports and subsidies, particularly as global oil prices have increased since last year. Expenditures on the FY 2016-17 budget had reached EGP 975 bn. The budget should be ready at the end of this week and the Ismail government is expected to review the draft in two weeks\u2019 time before handing it over to the House of Representatives by the end of March. Next fiscal year\u2019s budget anticipates GDP growth will reach around 5%, and a budget deficit of up to 9.5%.<\/p>\n","protected":false},"excerpt":{"rendered":"

Expenditures on the FY2017-18 budget may surpass EGP 1 tn for the first time, Al Ahram reports, citing unnamed Finance Ministry sources. According to Deputy Finance Minister Mohamed Maait, the increase in the budget is due in large part to fulfilling the constitutional requirement on health and education spending. The EGP float also drove up […]<\/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-649708","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"9139cd32-63fb-4505-957c-3522c2105eaa","order":"0","is_powered_by":true,"section_story_id":"6e2673fa-e2b4-4b7c-88a8-6e139d5cd4f8","story_type":"1","photo_url":"","photo_position":"above","related_issue":[649701],"teaser":"","voice_url":""},"yoast_head":"\nExpenditures on the FY2017-18 budget may surpass EGP 1 tn for the first time - 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\/2017\/03\/07\/expenditures-on-the-fy2017-18-budget-may-surpass-egp-1-tn-for-the-first-time\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Expenditures on the FY2017-18 budget may surpass EGP 1 tn for the first time\" \/>\n<meta property=\"og:description\" content=\"Expenditures on the FY2017-18 budget may surpass EGP 1 tn for the first time, Al Ahram reports, citing unnamed Finance Ministry sources. According to Deputy Finance Minister Mohamed Maait, the increase in the budget is due in large part to fulfilling the constitutional requirement on health and education spending. 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The constitution mandates that health and education spending amount to 8% of total state expenditures. Ismail did not elaborate, but he had previously stated\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":647552,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/14\/health-expenditures-in-fy2017-18-budget-meet-constitutional-requirement-maait\/","url_meta":{"origin":649708,"position":1},"title":"Health expenditures in FY2017-18 budget meet constitutional requirement -Maait","author":"enterpriseam admin","date":"14 May 2017","format":false,"excerpt":"The Health Ministry\u2019s annual public jockeying to increase its budget allocation has begun, with Assistant Health Minister Sayed El Shahed telling Al Mal the ministry asked for EGP 61 bn against the EGP 53.7 bn the Finance Ministry says it will provide. Deputy Finance Minister Mohamed Maait maintains that expenditure\u2026","rel":"","context":"In "Health + Education"","block_context":{"text":"Health + Education","link":"https:\/\/enterpriseam.com\/egypt\/category\/health-education\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":650356,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/22\/el-garhy-discusses-budget-in-an-al-ahram-interview\/","url_meta":{"origin":649708,"position":2},"title":"El Garhy discusses budget in an Al Ahram interview","author":"enterpriseam admin","date":"22 March 2017","format":false,"excerpt":"As for the FY2017-18 budget, Egypt\u2019s total subsidy expenditures are estimated to come in at EGP 385 bn, up from EGP 285 bn in the current fiscal year, El Garhy told Al Ahram in an interview published on Tuesday. Social welfare programs, including Takaful and Karama, will cost the state\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":599579,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/03\/egypts-budget-deficit-dips-in-first-five-months-of-fy-2018-19\/","url_meta":{"origin":649708,"position":3},"title":"Egypt\u2019s budget deficit dips in first five months of FY 2018-19","author":"enterpriseam admin","date":"3 January 2019","format":false,"excerpt":"Egypt\u2019s budget deficit dipped to 3.1% from 3.7% y-o-y during the first five months of FY2018-19, coming in at EGP 162.3 bn, down from EGP 163.6 bn in the same period last year, according to a Finance Ministry report (pdf). Inflows to state coffers during the five-month period came in\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":627751,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/11\/house-budget-committee-approves-egp-70-bn-overdraft\/","url_meta":{"origin":649708,"position":4},"title":"House Budget Committee approves EGP 70 bn overdraft","author":"enterpriseam admin","date":"11 June 2018","format":false,"excerpt":"BUDGET WATCH- The House of Representatives Budget Committee approved the government\u2019s request for a EGP 70 bn overdraft for the FY2017-18 budget, according to Al Masry Al Youm. Cabinet had approved last month the overdraft to cover \u201cnecessary expenditures,\u201d the lion\u2019s share of which was likely importing fuel at higher\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":627449,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/03\/finmin-ups-budget-deficit-figure-for-fy2017-18-to-10-2-from-9-8\/","url_meta":{"origin":649708,"position":5},"title":"FinMin ups budget deficit figure for FY2017-18 to 10.2% from 9.8%","author":"enterpriseam admin","date":"3 June 2018","format":false,"excerpt":"EXCLUSIVE- Expect the FY2017-18 budget to target a deficit of 10.2%, up from the 9.8% initially forecast: The Finance Ministry will reportedly hike its projected budget deficit to 10.2% for the current FY2017-18 from an initial target of 9.8%, government sources tell Enterprise. 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