The Minister of Finance.. after referring the final account of the last fiscal year to the House of Representatives:

Fathi Al-Sayeh

We achieved a primary surplus of 1.3%, the total deficit decreased to 6.1%, and the debt reached 87.2% in June 2022

tax revenues It increased by 18.9% and non-tax revenues 29.5%

33.9% annual growth in spending on social protection for the most needy

We paid 180 billion pounds. The annual installment of the National Organization for Social Insurance

Dr. Mohamed Maait, Minister of Finance, affirmed that the final account for the past fiscal year 2021/2022 embodies, in the language of numbers, our success in maintaining the stability of financial performance indicators under exceptional global economic conditions. In it, the negative repercussions of the Corona pandemic are intertwined with the war in Europe, which cast a shadow over the major economies of the world, and the resulting inflationary pressures that led to disruption in supply and supply chains, high shipping costs, and high food prices, in a way that reflects the Egyptian economy’s ability to contain internal and external shocks, and flexible dealing with their repercussions and negative effects; With the gains we have achieved as a result of the elaborate implementation of the comprehensive economic and structural reform program, the hard work to achieve financial discipline, and the sustainability of growth in various sectors.

The minister added, after referring the results of the final account to the fiscal year budget Past 2021/2022 to the House of Representatives, that we were able to reduce the total deficit of the budget to 6.1% of GDP, achieve a primary surplus of 1.3% during the last fiscal year ending in June 2022, and reduce the debt to 87.2%, down from 103% year in June 2016; This illustrates the importance of the proactive measures taken by the government in dealing with the negative effects of the global economic crises, indicating that the state continued to expand the umbrella of social protection at an annual growth rate of 33.9% in spending on caring for and supporting the neediest and most vulnerable groups. To reduce the inflationary burdens on citizens.

The minister indicated that the state was keen, during the past fiscal year, to complete its path in fulfilling its obligations towards providing a decent life for citizens, and improving the level of services provided to them. Despite the severe pressure imposed by the global economic crisis on the budgets of various countries, including Egypt, total public expenditures increased by an annual growth rate of 16%, pointing to the increase in public spending on wages and compensation of workers to 358.7 billion pounds, compared to 318.8 billion pounds in The fiscal year 2020/2021, with a growth rate of 12.5%, and the actual spending on food subsidies increased to 96.8 billion pounds, compared to 83 billion pounds in the fiscal year 2020/2021, a growth rate of 16.6%.

The minister explained that the state’s public treasury has paid 180 billion Egyptian pounds, the value of the annual installment to the National Organization for Social Insurance, within the framework of an agreement to resolve entanglements with the Ministry of Social Solidarity to pay the dues of insurance funds accumulated over half a century, in the light of the Social Insurance and Pensions Law. ; In order to ensure the provision of the necessary financial liquidity to serve the pensioners, their beneficiaries, and the insured, and to fulfill all obligations towards them. Implementing the strategy of building the Egyptian person, in a way that guarantees his health, education, and social advancement, as the actual spending on the health sector during the last fiscal year reached 136 billion pounds, compared to 107.6 billion pounds in 2020/2021, a growth rate of 26.4%. Spending on the education sector increased by 22.7% to reach 194.8 billion pounds compared to 158.8 billion pounds, in addition to an increase in spending on public investments by 32.2%, to record 329.7 billion pounds compared to 249.4 billion pounds.)
The Minister emphasized that electronic systems contributed to expanding the tax base by limiting the informal sector and maximizing efforts to integrate it with the formal sector, raising the efficiency of tax collection, reducing evasion, achieving tax justice and settling disputes. This helped raise tax revenues to 991.4 billion pounds, a growth rate of 18.9%, compared to 834 billion pounds. R pounds in 2020/2021, and an increase in non-tax public revenues to 351.7 billion pounds, with a growth rate of 29.5%, compared to 271.7 billion pounds in the fiscal year 2020/2021.