Cairo – Mubasher: The Egyptian government spending on health and education surged by 82% over the last five years, registering EGP 210 billion in 2019 from EGP 115 billion in 2014, according to a report released by the Ministry of Finance on Monday.
The report showed that spending on food subsidies increased to EGP 87 billion from EGP 39.4 billion over the five-year period.
In addition, the world’s largest housing project for low- and middle-income people has been implemented with the delivery of about 750,000 fully-finished residential units.
Since November 2016, Egypt has been implementing an economic reform programme supported by the International Monetary Fund (IMF) which provided a loan worth $12 billion over a three-year period.
The economic reforms included cutting fuel subsidies and increasing tax revenues.
