Egypt to submit FY2022/23 draft budget to community dialogue in a first

Doaa A.Moneim , Wednesday 22 Dec 2021

Egypt will submit the FY 2022/2023 draft budget for community dialogue for the first time in January 2022, Minister of Finance Mohamed Maait announced on Wednesday.


The minister said the move, initiated as per President Abdel-Fattah El-Sisi's directives, is meant to consolidate community contribution to set public spending priorities.

The dialogue is expected to focus on the key strategic objectives of the budget and its financial targets through eight dialogue sessions with representatives of the Federation of Egyptian Chambers of Commerce, Federation of Egyptian Industries, Egyptian Businessmen Association, Egyptian Junior Business Association, Senate, and House of Representatives, in addition to governors, business councils, persons with special needs, and young people, according to Maait.

The sessions will include a segment for media representatives, experts, professors at Egyptian universities, research centres, and think tanks.

The outcomes of the dialogue will be taken into account while drafting the final budget, said Maait.

The new budget, which will be rolled out on 1 July 2022, will focus on expanding in developmental investments, especially in green projects, and social protection nets, putting health and education as a top priority in terms of spending and investment, Maait said. 

It also centres on increasing partnerships with the private sector, particularly in the green-based investments, to improve Egypt’s competitiveness in the environmental performance indices, he added. 

Egypt plans to increase public green investments to 50 percent, up from 30 percent, through 2025, the minister stated. 

In a recent interview with Ahram Online, Vitor Gasper, head of the Fiscal Affairs Department at the International Monetary Fund, said that Egypt’s return to the pre-crisis primary surplus of two percent is expected in FY 2022/23, which together with stronger growth is expected to anchor a sustained decline in public debt over the medium term.

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