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Egyptian Economy News .. 25 billion pounds to finance the increase in salaries of state employees

Today, Sunday 23-5-2021, news of the Egyptian economy varied, most notably the confirmation of Dr. Mohamed Maait, Minister of Finance, that 25 billion pounds have been allocated in the budget for the next fiscal year to finance these new financial increases, which include the periodic bonus

Minister of Finance: 25 billion pounds to finance the increase in salaries for state workers

Dr. Mohamed Maait, Minister of Finance, confirmed that the new financial increases will be disbursed to workers in the state's administrative apparatus, along with the salary for next July. In a way that contributes to improving their wages and lifting the burdens on their shoulders, in a manner consistent with the efforts made by the state to enhance spending to improve the standard of living of citizens and facilitate decent livelihoods, pointing out that 25 billion pounds have been allocated in the budget for the next fiscal year to finance these new financial increases. It includes the periodic allowance for addressed persons in the Civil Service Law, the special allowance for non-speakers, and the additional incentive granted to all of them.

He added that the promotions of employees who meet the promotion requirements will be funded on June 30th. In order to achieve an improvement in their wages by the value of the "promotion bonus" legally determined at a total cost of one billion pounds, indicating that a financial incentive was allocated to workers transferred to the New Administrative Capital at a total cost of 1.5 billion pounds.

Rania Al-Mashat signs an agreement with the African Development Bank for 145 million euros for the railways

Dr. Rania Al-Mashat, Minister of International Cooperation, signed a development financing agreement with the African Development Bank, worth 145 million euros, with the aim of improving efficiency and safety factors in the railway system by supplying the authority's main lines (Alexandria / Cairo / Assiut / Naga Hammadi and Benha / Port Said line) The length of 953 km with the modern European automatic control system ETCS-L1 to control the course of trains and also to equip 100 tractors with the same system, in the presence of the team engineer Kamel Minister, Minister of Transport, Malin Bloomberg, the resident representative of the African Development Bank, the work team of the two ministries, and officials of the Railways Authority Ferrous.

This comes in light of the efforts made by the Ministry of International Cooperation to develop and strengthen economic cooperation relations between the Arab Republic of Egypt and the countries and international and regional organizations, and to provide funds for various development projects, to enhance the national efforts exerted to achieve Egypt Vision 2030, and to support the Ministry of Transport's plans to modernize the railway system. Serving millions of citizens every day.

The Minister of Industry is discussing with China's Yuteng plans to expand bus production in Egypt

Nevin Jameh, Minister of Trade and Industry, held an extended meeting with representatives of the Chinese company Yuteng and the Group of Geoshi Motors, where the meeting reviewed the company’s project established in Egypt for the production of buses and minibuses in cooperation with the Jiucci Motors Group and the new expansions that the Chinese company intends to implement in Egypt during the next locality for the production of buses and minibuses. Powered by natural gas.


The meeting was attended by Bing Zhao, Chief Transaction Officer of Yuteng, China, Muhyuddin Jiushi, Chairman of the Board of Directors of Jiuyi Motors Group, Khaled Jiuxi, Vice Chairman of the Board of Directors, as well as Hatem Al Ashry, Advisor to the Minister for Corporate Communication, and Engineer Mohamed Abdel Karim, Executive Director of the Industrial Modernization Center.

The minister affirmed the government's keenness to provide all aspects of support for various international companies to invest in the market to Egypt and transfer technologies and global expertise to the Egyptian industry, noting that the current trend of the Egyptian state aims to shift towards the use of clean energy by means of mass and private transport by working to replace vehicles to work with natural gas in parallel with Localization of electric powered vehicles.

Minister of Petroleum: The comprehensive development of the refining industry aims to achieve self-sufficiency in 2023

Engineer Tariq Al-Mulla, Minister of Petroleum and Mineral Resources, conducted an inspection tour in the petroleum geographic region in Alexandria Governorate to follow up the workflow of a number of refineries and petroleum manufacturing projects, including Alexandria Petroleum companies, AMOC and ANBK, in order to determine the rates of implementation of the ongoing plans and programs for development and modernization, increasing production capacities, raising operational efficiency and modernizing systems. Safety, industrial security and environmental protection, in addition to following up efforts to rehabilitate and develop the oil basin berths in Alexandria Port.

 Al-Mulla stressed that the comprehensive development and programs currently underway in the oil refining industry and programs to raise the efficiency of refineries, modernize them, implement and operate new projects aimed at supporting an advanced system for refining and processing petroleum in Egypt that fits the stage of development and growth witnessed by the Egyptian state and keeps pace with international standards and achieves the vision of the Ministry of Petroleum in self-sufficiency of products. Petroleum 2023.

Al-Mulla also stressed the need for continuous review of safety procedures in various petroleum projects in accordance with international standards, directing to hold workshops periodically with specialists in order to implement measures to improve the occupational safety and health system in order to preserve workers whose safety is a top priority.

Planning: The Egyptian constitution has given priority to spending on education and health

The Ministry of Planning and Economic Development, represented by Jamil Helmy, Deputy Minister of Planning for Follow-up Affairs of the Sustainable Development Plan, participated in the seminar held by the Egyptian Women’s Special Union entitled “The Legislative Authority and the State’s General Budget” via video conference, with the participation of Mervat Al-Kasan, a member of the Plan and Budget Committee in the House of Representatives, Dr. Mona Makram Ebeid Professor of Political Science at the American University, Hoda Badran, Chairman of the Board of Directors of the Specific Union of Egyptian Women, and the discussion was moderated by Dr. Lubna Reda, Executive Director of the Union, with the participation of a number of female parliamentarians, the Federation’s Board of Directors and members of the Federation’s General Assembly.

Jamil Helmy, Assistant Minister of Planning and Economic Development for Sustainable Development Plan Follow-up Affairs indicated that the main objective of the symposium is to have a simple analytical reading of the features of the sustainable development plan and focus on the features of the 2021/2022 plan, as the ability to read the plan and the budget is one of the important things when It results from achieving the goals, plans, programs and projects that the state implements all, stressing the importance of everyone being aware of the features of the plan and its reflection on the lives of citizens.