The Minister of Economy announces a 63% allocation for social spending in the 2027 budget
Minister of Economy and Planning Samir Abdul Hafeez announced on Wednesday morning at the Pardo Palace that 63% of state budget appropriations for 2027 will be allocated to social expenditures. This came during a joint public meeting that was devoted to answering MPs' questions about the state budget and economic budget bills for the same year.
Abdul Hafez explained that this trend translates into the President's choices to consolidate the social state's constitution and expand its role to all parts of the country. The proposed measures include raising wages, creating 12 lines of financing, providing loans to excluded categories of financing as well as tackling fragile operations, expanding social housing and improving transport services.
The Minister emphasized the continuation of the Tripartite Program to increase wages in the public and private sectors between 2026 and 2028, along with the adoption of complementary geographical measures in the Finance Bill to support purchasing power and economic integration. He pointed to ensuring the necessary credits to support fuels and essential materials and restricting supplies in cases of extreme necessity with the activation of the provisions of the Competition and Pricing Act.
Abdul Hafez touched on the field of operations through financing small projects, supporting young senders, start-ups and civil enterprises and opening affordable loan lines for low- and middle-income people. He noted that the food trade balance registers a positive financial surplus with the outside world, stressing stricter control over distribution channels to combat monopoly and speculation.
Minister of Economy and Planning Samir Abdul Hafez had announced on 5 November that the 2027 budget project will witness a boost in the commitments allocated to the Aerial Development Programme.
The General Meeting was adjourned at about 2:30 a.m. and resumed at 9:30 am to continue the discussion of the tasks and tasks of the 2027 budget.
