President Abdel Fattah El Sisi had a meeting on Tuesday with Prime Minister Moustafa Madbouli and Minister of Finance Mohamed Maait to follow up financial performance indicators also known as key performance indicators (KPIs) of the State’s general budget during the the first quarter of the fiscal year 2021/22.

During the meeting, President Sisi directed the government to maintain this performance with regard to the indicators of the State’s general budget with the view to achieving an initial surplus of 1.5 percent, reducing overall budget deficit by 6.7 percent, and keeping debt below 90 percent.

The indicators for the first quarter of the fiscal year of 2021-22 showed that the government is moving forward towards achieving its targets for the current fiscal year, Maait said.

He added that financial allocations had been increased in all expenditure sections, especially those related to providing sufficient funds for government investments, topped by the “Decent Life” rural development initiative.

Over EGP 24 billion has been allocated to secure the health sector’s needs in face of the coronavirus pandemic, around EGP 45 billion for social protection programs and paying the insurance and pension fund dues, and EGP 47 billion for the education sector, the minister pointed out during the meeting.

Source: State Information Service Egypt