The Egyptian government approves a budget of $135 billion for the year 2024-2025. The Egyptian government allocated 636 billion pounds to social protection programs, while saying it would seek to curb public spending to reduce debt.
The Council of Ministers set for the first time a maximum limit for public investment spending at one trillion pounds. The budget expects a growth rate for the next fiscal year of 4.2%, while the International Monetary Fund estimates Egypt’s economic growth rate at about 4.7%.