In its report today, the ministry stated that spending on wages and employee compensation rose by 22.4%, reaching EGP 197.1 billion over four months, compared to EGP 160.9 billion in the same period of the previous fiscal year.
The Ministry of Finance announced that total public expenditures in the budget increased by EGP 74.7 billion, or 7.3%, during the period from July to October of the current fiscal year 2024/2025, reaching EGP 1.098 trillion compared to EGP 1.023 trillion during the same period of the previous fiscal year.
In its report today, the ministry stated that spending on wages and employee compensation rose by 22.4%, reaching EGP 197.1 billion over four months, compared to EGP 160.9 billion in the same period of the previous fiscal year.
Expenditures on goods and services increased by 50.3% to EGP 56 billion, up from EGP 37.2 billion.
The report highlighted that spending on subsidies, grants, and social benefits rose by 30.9%, totaling EGP 168 billion during the review period, compared to EGP 128.3 billion.
Of this, spending on food subsidy programs amounted to EGP 33.2 billion over four months, while expenditures on low-income housing reached EGP 2.7 billion. Support for exports also increased, reaching EGP 1.9 billion.
The ministry further noted that spending on industrial production support climbed to EGP 1.9 billion, and cash subsidy programs (Takaful and Karama) rose to EGP 13.1 billion.
Contributions from the treasury to pension funds increased to EGP 62.6 billion, while healthcare expenditures amounted to EGP 4.4 billion.
Health spending saw a 31.9% increase, reaching EGP 65.8 billion during the review period, compared to EGP 49.9 billion in the same period of the previous fiscal year.
Spending on education rose by 28.3%, amounting to EGP 101.2 billion, compared to EGP 78.9 billion during the same period last year.
The report also pointed out a decline in interest payments by EGP 10.3 billion, amounting to EGP 583.5 billion over four months, compared to EGP 593.8 billion.
This decrease is attributed to efforts to control public spending by improving debt management through spreading interest payment burdens over the fiscal year and diversifying funding sources, including reducing reliance on the unified treasury account while adhering to legal limits.
Additionally, expenditures on non-financial asset purchases (investments) decreased by EGP 15 billion, amounting to EGP 42.6 billion compared to EGP 57.5 billion.
This reduction aligns with efforts to lower public investments funded by the treasury, maintaining the investment spending cap at EGP 1 trillion for the current fiscal year 2024/2025.
