The House of Representatives approves 85 billion pounds in opening an additional accreditation in the state budget for the current fiscal year
The Parliament and Budget Committee in the House of Representatives agreed, during its meeting today, to open an additional accreditation in the state’s general budget for the current fiscal year, at the rate of & nbsp; 85 billion & nbsp; EGP, and that & nbsp; The light of the emergency economic and financial variables during the fiscal year 2024/2025.
The draft law is organized in 3 articles and issue of issuance, and they are:
(Article 1) to open an additional accreditation with the use of the state budget for the fiscal year 2025/2024 85,000 pounds only of eighty -five billion pounds as follows: Chapter Three (Benefits) at the amount of 85,000,000 pounds It is only eighty -five billion pounds). Legal associated with the law linking the state’s general budget for the fiscal year 2024/2025 to the effects of the additional accreditation that was applied to it in the first and second articles of this law.
& nbsp; The interest and the exchange rate globally, and in return the improved tax performance, in order to ensure the stability of public finances and the continued implementation of the state’s financial policy. The government aimed to achieve a total deficit of 7.3% of the gross domestic product, and a preliminary surplus of 3.5%, in order to ensure the sustainability of the inmate of the public debt of the state budget agencies. The financial year witnessed the weighted average interest rates on treasury bills and bonds, which was reflected in the increase in the cost of borrowing compared to the original estimates, as well as a change in the financing strategy, where the acceptance of long -term bids was relied on to avoid the accumulation of benefits due during the same financial year, which contributed to prolonging Omar al -Din and reducing the burden of benefits in the short term. Budget estimates to a number of basic economic assumptions, which included the average interest rate on government debt tools by 25%, and the average exchange rate of the pound against the dollar at the level of 45 pounds, as well as implementing a package of reform measures aimed at supporting the productive sectors, protecting the affected groups from economic crises, as well as continuing to improve the quality of infrastructure, developing health and education services, enhancing human development, supporting export initiatives, including It contributes to achieving comprehensive and sustainable economic development. 2024 raising basic interest rates by 600 basis points to 27.75%. The supposed.
& nbsp; Value tax, expansion in the application of the electronic bill, linking tax collection systems to a unified system. An urgent need to manage additional credits to cover the financial burdens resulting from the high benefits.
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