Egypt allocates $361mln for social housing in FY20/21

The Egyptian Ministry of Finance has raised the allocated amount for social housing by 46.2% to EGP 5.7 billion in the draft budget for fiscal year 2020/2021.

This increase is aimed at meeting the growing demand for social housing, according to a statement on Wednesday.

The government also allocated EGP 3.5 billion for building the infrastructure needed to supply 1.2 million housing units with natural gas.