|18 February, 2020

Egypt’s spending on salaries up 12% in H1 2019/20

Government spending on bonuses and allowances increased by 16.3%

An employee counts Egyptian pounds in a foreign exchange office in central Cairo, Egypt, November 3, 2016. Image used for illustrative purpose.

An employee counts Egyptian pounds in a foreign exchange office in central Cairo, Egypt, November 3, 2016. Image used for illustrative purpose.

REUTERS/Mohamed Abd El Ghany

Cairo – The Egyptian government spending on employee salaries and compensation rose by 12.2% year-on-year during the first half of fiscal year 2019/2020, official data showed.

The most populous Arab nation spent about EGP 147.22 billion on employee salaries and compensation during the six-month period ended 31 December 2019, compared to EGP 131.16 billion in the year-ago period, according to a recent report released by the Ministry of Finance.

In addition, government spending on bonuses and allowances increased by 16.3% to EGP 64.74 billion in H1 of FY19/20, compared to EGP 55.63 billion in H1 of FY18/19.

The semi-annual report also showed that public expenditure on health and education grew by 20% and 14% year-on-year, respectively, during the July-December period of 2019.

Source: Mubasher

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