Finance Minister: State to prioritize human development in next 6 years

Finance Minister Mohamed Maait said that the state will give a top priority for increasing financial allocations for human development throughout the upcoming six coming years, as of the new fiscal year 2024-2025.

Upon presidential directives, financial allocations for health, the Universal Health Insurance System and upgrading education will be boosted, in order to accomplish the strategy of building the Egyptian personality, the minister said in a statement issued by the Ministry of Finance on Saturday 13/04/2024.

He added that allocations for the health sector will be raised to LE495.6 billion in the next year’s budget, compared to LE396.9 billion in the current fiscal year, recording an annual growth rate of 24.9 percent.

Allocations for the education sector are set to be raised to LE858.3 billion, against LE591 billion in the current FY 2023-2024, marking an annual increase of 45 percent, the minister said.

Meanwhile, financial allocations for scientific research will be upped to more than LE139.5 billion, in comparison with LE99.6 billion, recording an annual growth of 40.1 percent, Maait added.

The Finance Ministry is working on designating further allocations to enhance the efficiency of human cadres in the sectors of health and education, Maait said, noting that the last social package has entailed dedicating LE15 billion for the medical and teaching staffs.

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