The Egyptian government on Thursday unveiled 2024/2025 citizen budget, which allocates over half of the state's revenues to social protection and human development. The budget boosts salaries, pensions, and raises the tax exemption limit to ease citizens' financial strain. The government also allocated 998.1 billion Egyptian pound for education, and scientific research. The budget has set a ceiling for the public debt, requiring approval from the President Abdel Fattah al-Sisi, the Cabinet, and the House of Representatives. In addition, 50 per cent of the proceeds from asset sales shall be directed towards reducing public debt. The budget also plans a gradual removal of tax exemptions for state-owned entities involved in investment activities, aiming to create a more equitable business environment. Additionally, a spending cap of approximately one trillion Egyptian pound has been established for government expenditure, reinforcing fiscal discipline and ensuring efficient use of resources. Attribution: Citizen's Budget FY 2024/2025 report Subediting: M. S. Salama Download
