🇪🇬EgyptNorth Africa
Egypt to expand participatory budgeting nationwide after successful pilot programs
via Egypt Today1 min read
Egypt is preparing to implement its participatory budgeting model across all governorates, following successful pilot programs in Beni Suef, Fayoum, and Alexandria. Finance Minister Ahmed Kouchouk stated that this initiative aims to present state budget execution from the perspective of service beneficiaries, emphasizing that the national budget focuses on services and development programs that directly impact citizens. He added that citizen involvement improves spending efficiency, defines local priorities in health, education, and economic empowerment, and enhances transparency and public awareness of fiscal policy. Minister of Planning and Economic Development Ahmed Rostom described this as a step towards modernizing public finance management and performance-based budgeting, enabling citizens to identify development gaps and propose solutions. Officials noted that youth contributions in Beni Suef have already led to practical interventions in health, education, social protection, and local development. UNICEF representative Natalie Meyer highlighted that collaboration between institutions and communities can lead to more effective public spending, underscoring the importance of investing in children for Egypt's future. The government plans to expand the model to additional governorates in the next phase.
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The Egyptian Exchange EGX concluded Tuesday's trading session with an increase, as its total market capitalization grew by approximately LE 25 billion, reaching LE 3.577 trillion. This positive movement was primarily fueled by buying activity from institutions. The total trading value for the day amounted to about LE 275.2 billion, which included transactions for bonds, treasury bills, and ownership transfers, with equity trading specifically accounting for LE 10.5 billion. The market's upward trend was supported by net purchases from Egyptian and foreign institutions and investment funds. Conversely, Arab institutions and retail investors, along with Egyptian and Arab individuals, showed a tendency towards selling. Individually, the EGX30 index saw a rise of 0.32 percent, closing at 51,977.34 points. The EGX70 index increased by 1.02 percent to 13,639.8 points, and the broader EGX100 index advanced by 1.05 percent, finishing at 19,058.47 points.
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