Parliament approved the draft state budget in Tuesday’s session. It was referred to the State Council for legal review and drafting.
Deputy Finance Minister for Financial Policies Ahmed Ashraf Kojak said that the budget was approved, after introducing several amendments to parliament’s Plan and Budget Committee. These amendments, he added, include increasing the allocations for health and education to ensure the fulfilment of the constitutional entitlement.
He pointed out that the fiscal year 2016/2017 budget was approved with a general budget deficit of 9.8% of the total gross domestic product.
Member of parliament Mohamed Saad Badrawi said that the parliament approved the budget before the end of the current fiscal year, in accordance with the Constitution.
He explained that the government had failed in sending the draft to the State Council for revision; hence, the parliament is sending it.
Lifting allocations of health, education, and scientific research to 10% of the budget, was one of the most debated terms of the draft that lasted for the past three years in parliament. The ratio was calculated based on the GDP—estimated at EGP 2.7tr—which was rejected by the 25-30 Alliance.