Egypt Independent

Finance Ministry withdraws LE1.3 billion from budget reserve



The Finance Ministry has decided to increase state budget allocations for the current fiscal year with LE1.3 billion from the reserve.

Finance Minister Momtaz al-Saeed said LE900 million would be allocated for the General Petroleum Authority to import fuel to meet local market needs, thereby raising the total allocations for the authority in one year to LE17.7 billion.

The minister also said LE146 million would be allocated for the Agricultural Development and Credit Bank to support agriculture, LE87.6 million for the Transport Ministry to renovate the subway, LE53.6 million for the General Authority for Tourism Development to complete desalination plants in ​​Matrouh and the Sinai Peninsula, LE53.5 million for the Supply Ministry for bread subsidies, LE9.5 million for the General Authority for Veterinary Services and LE35 million for the Justice Ministry.

Translated from Al-Masry Al-Youm