CAIRO: The Egyptian parliament has approved the budget for the fiscal year 2022-2023, expecting a 15 percent increase in spending and a 14.5 percent rise in deficit.
According to estimates, total expenditures will amount to 2.07 trillion Egyptian pounds ($106 billion) and 1.5 trillion Egyptian pounds are expected in revenues.
The upcoming fiscal year will start in July.
The budget for the new fiscal year 2022-2023 reflects the government’s desire to improve citizens’ lives amid global economic shocks, Finance Minister Mohamed Maait said.
