EGYPTIAN BUDGET
Record Sum For Defence (N.Z.P.A.-Reuter— Copyright) CAIRO, June 3. Egypt will spend a record amount, the equivalent of SNZSO4m, on defence and security in the coming year, the Minister of the Treasury (Dr Abdel-Aziz Mohammed Hegazi) told the National Assembly yesterday. The total expenditure in the 1969-70 Budget would amount to the equivalent of SNZ4974m, an increase of about 20 per cent
Allocations to an emergency fund set up after the six-day war with Israel in June, 1967, would be increased to the equivalent of SNZ3SO.2m because the withdrawal of industries from the war zone along the Suez Canal and the evacuation of civilians from front-line areas had made increased calls on the fund during the last year. The emergency fund is partly financed by the oil States of Kuwait Libya and Saudi Arabia, and from special taxes on petrol and cigarettes.
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Press, Volume CIX, Issue 32005, 4 June 1969, Page 13
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144EGYPTIAN BUDGET Press, Volume CIX, Issue 32005, 4 June 1969, Page 13
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