Egypt’s parliament approves 2022/23 budget with expenditures rising 15%


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.