Egypt's National Social Insurance Authority (NASI) recorded a 44.2 billion Egyptian pounds increase in its investments during FY2023/24, reflecting a 7.8 per cent rise compared to the previous year, according to Finance Minister Ahmed Kouchouk. The remarks came during a meeting chaired by Prime Minister Mostafa Madbouly to review the Authority's financial position and the performance of its affiliated investment fund. Kouchouk added that returns from the Authority's investment fund also recorded strong growth, rising by 24.9 billion Egyptian pounds as of 30 June 2024—an increase of 33.24 per cent year-on-year (YoY). Madbouly underscored the Authority's vital role in providing social protection for Egypt's workforce and managing its financial surpluses through targeted investments. Moreover, Chairman of the NASI Gamal Awad reviewed the financial status of the institution following the implementation of the new pension law and presented an update on the actuarial review. He noted that the Authority continues to direct its surpluses into strategic projects that yield sustainable financial returns. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
