Egypt provides EGP 2.2B to supports private funds, accounts workers

Egypt’s general treasury supports the salaries of workers in the private funds and accounts by LE 2.2 billion during 9 months from last July to next March, according to a statement by Minister of Finance, Mohamed Maait.

 

This support will reach approximately LE 3 billion by the end of FY 2023/2024, compared to EGP 723 million in FY 2017/2018, with a growth rate of 315 percent, Maait added.

 

In the third quarter of FY2023/2024, an allocation of LE 747.9 million was designated to bolster the salaries of employees working in private funds and accounts. 

 

This initiative aimed to enhance job conditions for registered workers in these sectors, fostering an innovative work environment and elevating performance efficiency. Ultimately, the goal was to enhance the quality of services provided to citizens.