{"id":650538,"date":"2017-03-27T04:11:16","date_gmt":"2017-03-27T04:11:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/27\/government-to-increase-spending-on-social-security-and-welfare-programs-in-upcoming-fiscal-year\/"},"modified":"2017-03-27T04:11:16","modified_gmt":"2017-03-27T04:11:16","slug":"government-to-increase-spending-on-social-security-and-welfare-programs-in-upcoming-fiscal-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/27\/government-to-increase-spending-on-social-security-and-welfare-programs-in-upcoming-fiscal-year\/","title":{"rendered":"Government to increase spending on social security and welfare programs in upcoming fiscal year"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>The government will increase spending on social security and welfare in FY2017-18 by<\/strong><strong>setting aside a sum equivalent to 1% of the nation\u2019s projected EGP 4 tn in GDP<\/strong>, said Finance Minister Amr El Garhy. This should come to around EGP 40 bn, he told President Abdel Fattah El Sisi and Prime Minister Sherif Ismail in a budget briefing yesterday, <a href=\"http:\/\/www.ahram.org.eg\/News\/202216\/5\/585451\/\u0627\u0642\u062a\u0635\u0627\u062f\/-\u0645\u0644\u064a\u0627\u0631-\u062c\u0646\u064a\u0647-\u0628\u0627\u0644\u0645\u0648\u0627\u0632\u0646\u0629-\u0627\u0644\u062c\u062f\u064a\u062f\u0629-\u0644\u0644\u0625\u0646\u0641\u0627\u0642-\u0639\u0644\u0649-\u0628\u0631\u0627\u0645\u062c-\u0627\u0644.aspx\">Al Ahram reports<\/a>. Other key highlights on the budget, which is expected to be sent to the House of Representatives later this week, include:<\/p>\n<ul type=\"disc\">\n<li><strong>A budget deficit in the range of 9.2-9.5%<\/strong> of GDP next year;<\/li>\n<li>Welfare spending will be primarily directed towards <strong>cash and food subsidies<\/strong> as well as health care and education;<\/li>\n<li><strong>Wages for civil servants will cost the state around EGP 240 bn<\/strong> next year, with no plans to slash them, according to House Budgeting Committee member <a href=\"http:\/\/www.youm7.com\/story\/2017\/3\/26\/\u0648\u0643\u064a\u0644-\u062e\u0637\u0629-\u0627\u0644\u0628\u0631\u0644\u0645\u0627\u0646-\u0644\u0627-\u0646\u064a\u0629-\u0644\u062f\u0649-\u0627\u0644\u062d\u0643\u0648\u0645\u0629-\u0644\u062e\u0641\u0636-\u0627\u0644\u0645\u0631\u062a\u0628\u0627\u062a-\u0628\u0627\u0644\u0645\u0648\u0627\u0632\u0646\u0629\/3161918\">Yasser Sheba<\/a>;<\/li>\n<li><strong>A 24% y-o-y increase in state revenues<\/strong> during the coming fiscal year, driven mostly by further tax reforms;<\/li>\n<li><strong>State investments<\/strong> <a href=\"http:\/\/www.ahram.org.eg\/News\/202216\/25\/585398\/%D8%A7%D9%84%D8%A3%D9%88%D9%84%D9%89\/%D8%A7%D9%84%D8%AA%D9%88%D8%B3%D8%B9-%D9%81%D9%89-%D8%A8%D8%B1%D8%A7%D9%85%D8%AC-%D8%A7%D9%84%D8%AD%D9%85%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9%D9%8A%D8%A9%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D9%8A%D8%B3%D8%AA%D8%B9%D8%B1%D8%B6-%D8%A7%D9%84.aspx\">are set<\/a> to increase 22% year-on-year to EGP 646 bn;<\/li>\n<li>The government had projected in its IMF agreement <strong>an exchange rate of EGP 13.3 to the USD<\/strong>, weakening the EGP from EGP 11.9 in the FY2016-17 budget, <a href=\"http:\/\/www.almalnews.com\/Pages\/StoryDetails.aspx?ID=327701\">Al Mal<\/a> reports. <\/li>\n<\/ul>\n<p><strong>El Garhy confirmed that there will be further changes coming to the Income Tax Act<\/strong>, <a href=\"http:\/\/www.almalnews.com\/Pages\/StoryDetails.aspx?ID=327686\">Al Mal<\/a> reports. These will include a new tax code for SMEs a mechanism of implementing any tax incentives ultimately specified by the Investment Act.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government will increase spending on social security and welfare in FY2017-18 bysetting aside a sum equivalent to 1% of the nation\u2019s projected EGP 4 tn in GDP, said Finance Minister Amr El Garhy. This should come to around EGP 40 bn, he told President Abdel Fattah El Sisi and Prime Minister Sherif Ismail in [&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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-650538","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"0428c255-9e2c-4f1e-9b1d-dd80ff8af083","order":"0","is_powered_by":true,"section_story_id":"e8c5f368-591f-466b-885a-021220601f1e","story_type":"1","photo_url":"","photo_position":"above","related_issue":[650529],"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>Government to increase spending on social security and welfare programs in upcoming fiscal year - 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\/27\/government-to-increase-spending-on-social-security-and-welfare-programs-in-upcoming-fiscal-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government to increase spending on social security and welfare programs in upcoming fiscal year\" \/>\n<meta property=\"og:description\" content=\"The government will increase spending on social security and welfare in FY2017-18 bysetting aside a sum equivalent to 1% of the nation\u2019s projected EGP 4 tn in GDP, said Finance Minister Amr El Garhy. This should come to around EGP 40 bn, he told President Abdel Fattah El Sisi and Prime Minister Sherif Ismail in [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/27\/government-to-increase-spending-on-social-security-and-welfare-programs-in-upcoming-fiscal-year\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-27T04:11:16+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\/2017\/03\/27\/government-to-increase-spending-on-social-security-and-welfare-programs-in-upcoming-fiscal-year\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/27\/government-to-increase-spending-on-social-security-and-welfare-programs-in-upcoming-fiscal-year\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Government to increase spending on social security and welfare programs in upcoming fiscal year\",\"datePublished\":\"2017-03-27T04:11:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/27\/government-to-increase-spending-on-social-security-and-welfare-programs-in-upcoming-fiscal-year\/\"},\"wordCount\":250,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/27\/government-to-increase-spending-on-social-security-and-welfare-programs-in-upcoming-fiscal-year\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/27\/government-to-increase-spending-on-social-security-and-welfare-programs-in-upcoming-fiscal-year\/\",\"name\":\"Government to increase spending on social security and welfare programs in upcoming fiscal year - 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Our math suggests government spending will increase 9% during the year in what Finance Minister Mohamed Maait called Egypt\u2019s\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\/3\/350.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":648928,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/18\/government-hypes-up-social-spending\/","url_meta":{"origin":650538,"position":1},"title":"Government hypes up social spending","author":"enterpriseam admin","date":"18 April 2017","format":false,"excerpt":"Cabinet spent the long weekend hyping up social welfare spending ahead of its budget debate in the House after its draft 2017-18 budget \u2018leaked\u2019 to the media. The Ismail government spent the long weekend promoting its social welfare spending as it prepares to sell the House of Representatives on its\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":647354,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/09\/budget-discussions-kick-off-at-the-house\/","url_meta":{"origin":650538,"position":2},"title":"Budget discussions kick-off at the House","author":"enterpriseam admin","date":"9 May 2017","format":false,"excerpt":"Finance and planning ministers talk FY2017-18 budget with the House: House of Speaker Ali Abdel Aal referred the Ismail government\u2019s proposed FY2017-18 budget to the House Budget Committee after Finance Minister Amr El Garhy and Planning Minister Hala El Said briefed MPs on the spending bill yesterday, Ahram Gate reports.\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":646750,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/22\/house-signs-off-on-budget-in-record-timing\/","url_meta":{"origin":650538,"position":3},"title":"House signs off on budget in record timing","author":"enterpriseam admin","date":"22 June 2017","format":false,"excerpt":"In a dash to get to Eid break, the House has signed off on the budget in record time: The House of Representatives broke a legislative land speed record on Wednesday when it signed off on the Ismail government\u2019s EGP 1.206 tn budget for FY2017-18 after only two rounds of\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":566014,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/govt-to-slash-subsidies-doled-out-to-help-water-companies-cover-expenses\/","url_meta":{"origin":650538,"position":4},"title":"Gov\u2019t to slash subsidies doled out to help water companies cover expenses","author":"enterpriseam admin","date":"23 May 2021","format":false,"excerpt":"State water companies will no longer be getting subsidies from the state to cover their spending shortfall starting next fiscal year, according to the FY2021-2022 draft budget (pdf). The final subsidy payment to those companies, some EGP 750 mn, is expected to be received by the end of the ongoing\u2026","rel":"","context":"In &quot;SPEED ROUND: BUDGET WATCH&quot;","block_context":{"text":"SPEED ROUND: BUDGET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-budget-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/420.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561902,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/26\/finmin-releases-egypts-draft-fy2021-22-budget\/","url_meta":{"origin":650538,"position":5},"title":"FinMin releases Egypt\u2019s draft FY2021-22 budget","author":"enterpriseam admin","date":"26 April 2021","format":false,"excerpt":"FinMin publishes draft budget as House pushes on with its discussion: The Finance Ministry released yesterday its draft FY2021-2022 budget (pdf), which is under discussion at the House of Representatives after earning cabinet sign-off last month. MPs need to approve the draft before the start of the fiscal year on\u2026","rel":"","context":"In &quot;BUDGET WATCH&quot;","block_context":{"text":"BUDGET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/budget-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/262.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/650538","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=650538"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/650538\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/650529"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=650538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=650538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=650538"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=650538"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=650538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}