Minister of Finance Dr. Youssef Boutros Ghali has announced that the first draft for the new law on improving the insurance law is underway and will be reviewed by leaderships within the labour community for review at the start of the new year. He noted that the current law is currently being updated and filtered from vague resolutions to facilitate its application.

The meeting with the Minister on the first draft insurance law has been attended by Head of the government insurance fund Rashad Salem and a number of officials .  Dr. Ghali noted that revenues on the government insurance fund has reached 1.770 billion pounds last year which is 12.6% increase leading to total revenues of 29.740 billion pounds this year.  The employees insurance fund for the business sector has recorded revenues of 39.3 billion which is an increase of 1.2 billion over last year.

Newly insured employees in the work market have amounted to 850 thousand and those on pension 208 thousand over the same period.

In the investment field, public and private  business funds have included increased investments by 3524 million.

There is a current overhaul in insurance payment outlets.

(source: Ministry of Finance)