Economics

Finance minister approves LE 28B in urgent allocations to several state bodies

CAIRO – 26 January 2020: Finance Minister Mohamed Ma'it approved on Sunday LE 28.17 billion in urgent financial allocations from the state budget to several state entities covering the period from July to December of the fiscal year 2019/2020.
The allocations include LE 24.9 billion to the General Authority for Supply Commodities (GASC) for the ration cards and bread subsidies, LE 1 billion to the National Media Authority to meet its commitments towards its employees and LE 366.6 million to the General Authority for Health Insurance to provide financial support to students and women breadwinners.
The allocations also cover the financial needs of the Supreme Council of Culture, the Holding Company for Cotton Spinning and Weaving, the Holding Company for Water and Waste Water and the Railway Authority.



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