Egypt's Finance Minister Mohamed Maait said on Monday that the 2020/21 fiscal year will witness improvement in the living conditions of the Egyptian people.

Addressing the parliament's manpower committee, Maait said that the government will submit the new budget to the House of Representatives on 31 March.

He added that the government has succeeded in controlling the inflation rates and providing the basic commodities for citizens at affordable prices in the past period.

Maait also expected the public debt to reach 83 percent of the Gross Domestic Product (GDP) by 30 June, 2020, down from 108 percent of the GDP before the start of the economic reform program in 2016.

He pointed out that a large number of public servants are scheduled to be promoted in January after the allocation of EGP 1.5 billion on that score.