Egypt to hold community dialogue on FY 2023/24 budget draft to identify priorities – The North Africa Post

Egypt will submit its Financial Year 2023-2024 budget to a community dialogue. The aim is to increase community participation in determining priorities for public spending. Finance Minister Mohamed Maait announced Monday.

“A community dialogue on the new budget will be launched in the next few weeks, in order to determine public spending priorities, in light of exceptional circumstances witnessed by the global economy, and to impose very difficult pressure on the budgets of countries including Egypt,” Maait’s department said in a statement.

The minister stated that the process is designed to ensure equitable allocation of budgetary credits in an adequate manner to respond to growth or development requirements for all areas and segments of society. It will focus on development priorities, expansions of the social security network, and addressing international and local economic challenges. It will also contribute to reducing the impact of global inflation on citizens as much possible.

Six sessions will be held with representatives of the Union of Chambers of Commerce, the Union of Industries, the Export Councils, the Union of Investors, the Business Associations, the Youth of Entrepreneurs, Joint Business Councils, the Senators, Women, and the People of Inspirations. The current FY 2022/2023 budget draft was submitted by the Arab country for a community dialog. It was first presented in January 2022.

Egypt’s economy has been hurt by the brunt of the COVID-19 and Ukraine-Russia war.