Egypt to cut spending on government entities

Reuters/REUTERS

The decision provided for a group of general rules and regulations for spending reduction to achieve government goals

Staff Writer, Arab Finance

January 3, 2023

PHOTO

The Egyptian Cabinet approved the Prime Minister’s decision to reduce spending in the fiscal year (FY) 2022/2023 on entities included in the state’s general budget and general economic authorities, according to an official statement on December 29th.

The decision provided for a group of general rules and regulations for spending reduction to achieve government goals and address the effects of global crises.

On another note, the Cabinet approved the measures regulating the incentives for the transfer of state employees to the New Administrative Capital (NAC).

The measures included allocating residential units for employees in Badr City and NAC’s R3 district.

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