After Sisi met with the Prime Minister and the Minister of Finance … the characteristics of the austerity plan to rationalize spending against Corona

05/10/2020 Health



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The president met Abdel Fattah El-Sisi Today, Sunday, Dr. Mustafa Madbouly, Prime Minister, in the presence of Dr. Mohamed Moait, Minister of Finance and his deputies, will monitor financial performance indicators until the end of April in light of the repercussions of the crisis of the Corona virus.
President Sisi called for careful monitoring and regular study of the situation regarding the economic implications of “Sk“; Maintain the safe economic course of the country and safeguard the benefits of economic reform.
The doctor said Mohamed MoitThe Minister of Finance, during the meeting, said that although some of the state’s revenues decreased and some of the expenses related to managing the crisis in Corona and our economy withstood the challenges, if the repercussions of the crisis persist for long periods of time, austerity measures will be used when reviewing or freezing some expenses, to guarantee the capacity of public finances to continue fulfilling their obligations.
And postEco country“The most outstanding characteristics of the government’s strategy to rationalize public spending to face the repercussions of the emerging Corona virus during the next fiscal year, that is, within two months and together with the arrival of next July.
To Earth Government plan For the next fiscal year, complete the streamlining and realignment of public spending priorities to achieve sustainability of public financial indicators with the goal of reducing the budget deficit by up to 6.2% of GDP and public debt by 82.8% , in parallel with the processes of economic activity to provide real job opportunities and improve the level of public services provided for citizens, in addition to increasing the efficiency of public spending on specific social protection programs, in addition to subsidizing financial allocations for public investments financed by the public treasury to improve infrastructure.

The plan aims to improve public services for citizens and includes transportation, public transportation, drinking water and sanitation, development of slums, social housing and increased investment in human capital through the direction of spending on educational services, from health and scientific research in conjunction with specific programs and reforms to complete and expand the comprehensive health insurance program.

The plan identified reform priorities for public spending, including providing the needs of the medical sector to treat and reduce the spread of the emerging Corona virus, in addition to improving spending aimed at supporting economic activity and supporting the most affected economic sectors. by Corona to provide more job opportunities for youth and eradicate poverty, in addition to providing sufficient financial appropriations for the provision of food and basic strategic products to citizens.

Government expenditures focus on continuing and improving the development of social safety nets in a modern way that ensures that support is delivered to those who deserve it, so that the main categories of care are directed, direct appropriations appropriate to finance and continue the comprehensive health insurance system and expand the quality of health services provided to those who are not at the expense of the state, along with the expansion of investment spending to improve infrastructure, with a system to manipulate, evaluate and manage the financial risks, including a modern and developed system to issue government guarantees and monitor any potential risks to deal with them early.



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