Cairo: During the weekly press conference hosted by Prime Minister Dr. Mostafa Madbouly, Mr. Ahmed Kouchak, the Minister of Finance, introduced the components of the new social protection package and related support initiatives. The Minister commenced his address by extending greetings to the political leadership, government officials, and the Egyptian populace on the occasion of Ramadan, expressing hopes for a month of prosperity for everyone. He also mentioned attending a meeting with the Prime Minister, organized by President Abdel Fattah El-Sisi, to examine the specifics of the new social protection package.

According to State Information Service Egypt, the Minister emphasized clear directives to ensure the package is comprehensive, focusing on the most vulnerable sections of society, aligning with the state’s objectives. This includes transitioning to cash support and assistance, expanding service provisions, and implementing procedures to facilitate the intended support without causing price distortion
s or inflationary pressures, which have recently seen a decline. The Minister expressed optimism for a continued decrease in these rates, which are crucial for the national economy and citizens.

The social package is divided into two segments: measures effective until the end of the current fiscal year and changes in wages and pensions starting in July, coinciding with the new fiscal year. This ambitious package targets all employees in the state administrative framework. For the first segment, operational from Ramadan through June, measures include leveraging data audits to benefit 10 million low-income families with ration cards. Families with one or two members will receive additional financial support via these cards, repeated during Eid al-Fitr.

The “Takaful and Karama” programme will also see enhancements, with 5.2 million beneficiaries receiving 300 Egyptian pounds per family during Ramadan for essential needs. A permanent 25% increase in financial bonuses, effective from April, has been introduced,
addressing the rise in programme registrations without a prior increment.

The Minister highlighted the package’s diversity, particularly regarding the health sector, a government priority. He has coordinated with the Minister of Health to address critical cases and manage waiting lists for urgent surgeries, currently numbering approximately 60,000 cases.