The People’s Assembly under the chairmanship of Speaker Dr. Fathy Serour has approved the budget plan for the fiscal year 2007/2008 and the five year plan for 2007-2012.

The Assembly has introduced ...

The People’s Assembly under the chairmanship of Speaker Dr. Fathy Serour has approved the budget plan for the fiscal year 2007/2008 and the five year plan for 2007-2012.  The Assembly has introduced a number of significant amendments to the draft budget for the first time in the wake of recent constitutional amendments and which give the right to the Assembly to amend the budget and pass additional credits of up to 4.4 billion pounds, thus raising the total budget amount to 271.5 billion pounds.  The People’s Assembly has also approved an additional 138.7 million pounds for the budgets of several economic agencies to be directed to raising salaries and other sectors such as health, education, youth, culture, potable water and utilities; as well as compensations to contractors and improving doctors’ standards of living. Minister of Finance has welcomed the additional payments describing the parliamentary decisions in support the budget as reflective of the parliament as becoming a partner to the government in mapping out the economic policies of the state. (source: Al-Akhbar)