Egypt's parliament to start discussing FY 2023/24 ‘flexible’ budget and development plan on Sunday

The discussion will continue until Tuesday, after which the budget and plan will be submitted for a final vote.

The parliament's Budget and Plan Committee issued two reports before the discussion. These reports described the FY 2023-24 budget as flexible.  

Furthermore, the reports state that the budget aims to mitigate the impact on vulnerable classes of soaring inflation – triggered by the war in Ukraine – and implement reforms that can achieve fiscal discipline.

Chairman of the Budget Committee, Fakhri El-Fiqi, will kick off the debate by delivering a statement on the main aspects of the budget and plan.

Then, MPs representing political parties and independent members will comment on the budget and plan.

According to Egypt's 2014 constitution, the budget and socio-economic development plan should be ratified by parliament before the end of the fiscal year on 30 June.

Finance Minister Mohamed Maait recently told parliament that spending on social security programmes, grants, and subsidies will increase by 28.2 percent in the new budget, up from 17.1 percent in the current FY 2022-23 budget.