Rafah Crossing 'never been closed for one day' from Egypt: PM    Egypt will keep pushing for Gaza peace, aid: PM    Remittances from Egyptians abroad surge 70% YoY in July–May: CBE    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    Egypt's current account gap narrows, but overall BoP records deficit    Al-Sisi urges accelerated oil, gas discoveries, lower import bill    SCZONE signs $52.6m textile industry deals during China investment tour    Egypt hosts international neurosurgery conference to drive medical innovation    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    EGX to close Thursday for July 23 Revolution holiday    Egypt, Senegal sign pharma MoU to unify regulatory standards    Famine kills more Gaza children as Israel tightens siege amid global outrage    Kuwait's Crown Prince, Egyptian minister discuss strengthening cooperation    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Egypt's FM seeks deeper economic, security ties on five-nation West Africa tour    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt foils terrorist plot, kills two militants linked to Hasm group    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Parliament discusses additional appropriations for general budget final account for FY 2016/2017
Additional appropriations allocated for oil derivatives at about EGP 61bn of total additional appropriations at EGP 105bn
Published in Daily News Egypt on 21 - 02 - 2018

The total value of the additional appropriations in the general budget final account for fiscal year (FY) 2016/2017 reached EGP 105bn, according to representative of parliament's planning and budget committee Yasser Omar.
He said that the largest portion of these additional appropriations was allocated for the petroleum sector due to the rising price of oil barrels.
The financial allocation for oil derivative subsidies in FY 2016/2017 recorded EGP 35m, but the rise in oil prices above $45 per barrel led to the opening of additional funds, Omar added.
He said that the price of oil barrels in the 2016/2017 budget initially amounted to $41 per barrel on expectations of lower oil prices, but Brent crude rose to $50, forcing the Ministry of Petroleum to request additional financial allocations.
Omar pointed out that the additional appropriations allocated for oil derivatives accounted for about EGP 61bn of the total additional appropriations.
Egypt's budget deficit in the past fiscal year amounted to EGP 379.59bn, accounting for 10.9% of GDP, according to the Ministry of Finance.
The budget's revenues amounted to EGP 659.148bn, while expenditures recorded EGP 1.031tn.
The Ministry of Finance reported that tax revenues came to about EGP 462bn and investments in non-financial assets reached EGP 109bn.
Other expenditures included EGP 225.5bn for wages and compensation of employees, EGP 42.4bn for goods and services, EGP 316.6bn for interest costs, and EGP 276.7bn for subsidies and social grants.


Clic here to read the story from its source.