Egypt allocated EGP642 billion to subsidies, grants, and social benefits for the most vulnerable citizens in the fiscal year 2023/24, marking a 12 per cent annual increase, Finance Minister Ahmed Kouchouk has said. He noted that spending focused on targeted social protection programmes for those most in need. Kouchouk stated at a press conference that EGP165.4 billion was spent on subsidised food supplies, a 24 per cent increase from the previous year. Additionally, EGP43.2 billion supported social security programmes, including Takaful and Karama initiatives, up 22.8 per cent, providing relief to low-income citizens. He also said EGP142.7 billion was allocated to pension fund contributions, a 5.8 per cent increase, while passenger transport received EGP2.5 billion, up 10.4 per cent. Additionally, EGP1.3 billion was directed to vehicle replacement and supporting the green transition. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
