Subscription revenues collected by the social insurance funds for government employees and public and private sectors increased 18 percent to LE 31.8 billion; funds by government employees stood at LE 21.2 billion and by public and private sectors LE 10.6 billion, Finance Minister Youssef Boutros-Ghali said Friday 20/11/2009.

Ghali also noted that pensions cached by both funds soared 21 percent to LE 31.6 billion; LE 14.1 billion for government employees and LE17.5 billion for public and private sectors.

Egypt's total insurance and pension funds grew 16 percent to LE 60.3 billion in FY 2008/2009, compared to LE 52 billion last year, the minister added.

Ghali attributed the increase to new subscribers coming under the insurance umbrella in the fiscal year saying 1.7 million new jobs were covered.

(Source: Egypt State Information Service)