Soft Launch
After Ratification of the Final Account Statement of FY2014/2015 by the Parliament 
Minister of Finance, Mr. Amr El-Gharhy, announces:
  • Discussions are important to highlight the outcomes of the State's financial policy and the efforts to cater for the most-needed groups
  • Total budget deficit amounts to 11.5% of GDP in FY 2014/2015.
  • Priority is given to social, education and health programs as well as to public investments with total budget allocations worth of 230.6 billion EGP and of 61.7 billion EGP, respectively.
  • The State's monetary policy succeeds in decreasing public debt interests from EGP 199.1 billion to nearly EGP 193 billion in FY 2014/2015.
  • Public Treasury pays 236.5 billion EGP worth of local and foreign loans in FY 2014/2015, with an increase of 107.5 billion EGP, compared to FY 2013/2014.
  • Economic authorities receive 145.594 billion EGP in the form of aids from the Public Treasury, and achieve net profits of 30.612 billion EGP.
  • EGPC receive subsidies by 73.9 billion EGP, GASC by 39.4 billion EGP, and Electricity by 23.6 billion EGP and pension funds by 33.2 billion EGP.
  • Failure to approve additional allocations in the State’s general budget (FY2014/2015) in order to settle entanglements between some economic authorities and the Public Treasury is one of the remarkable comments of the Central Auditing Organization (CAO) regarding the final account statement.
  • The government decision not to exploit all grants worth of USD 7.8 billion received from Arab countries in decreasing the State’s general budget deficit is also debated in the CAO comments.