The Government of Egypt introduced the regime of a tight economy of the budget until the completion of the Russian-Ukrainian war. This was announced on Tuesday his official representative Nader Saad.
The Government of Egypt approved at the meeting on Tuesday the project of the country’s budget for 2022-2023 fiscal year (will begin on July 1). According to Saad, the draft budget, which will be represented by Parliament, is subject to restructuring. “It is characterized by the use of maximum financial discipline and expenses in the minimum limits, with the exception of the social industry,” he indicated, reports TASS.
In an interview with the Al Hayat TV TV channel, Saad told that it is subject to reduction in the expenditure items that are not related to education, health and government programs in the sphere of social protection of the population. The introduction of a tight economy regime official explained by the Ukrainian crisis.
In the past three weeks, in Egypt, the rise in prices for basic food products was recorded in Egypt, which retailers are primarily explained by the increase in energy prices in the global market due to the Russian-Ukrainian war. On the eve of the country, it was announced the establishment of fixed prices for the Bread, which is the basis of the Egyptian diet, to avoid their uncontrollable growth.