Falcon powers – The Speaker of the Egyptian House of Representatives, Hanafi Jabali, has given his final approval to the draft general budget for the new fiscal year 2024-2025, which includes the largest increase in salaries and pensions in the country’s history.
Jabali stated during the general session of the House that the general report will be referred to the government to take the necessary action, as well as the three attachments with the recommendations, and the competent committees will follow up on what has been completed.
On the other hand, Dr. Mohamed Maait, the Minister of Finance, affirmed the government’s commitment to dealing with the effects of the inflationary wave, noting that the percentage of taxes in the state’s general budget revenues ranges from 68% to 78% over the past 45 years.
Dr. Mohamed Maait said that the state is not seeking to raise taxes, and is trying to expand the tax base through the mechanization of the system, and aims to increase the volume of agricultural and industrial production, as well as investments, which generate tax revenues for us.
