Hommam Al Nassim 
Samah Kamal Idris, a representative of the Egyptian General Petroleum Corporation, said on Thursday that the corporation has paid $1.2 billion of the dues owed to foreign oil companies during the 2023-2024 fiscal year, which ends next June. This payment is aimed at ensuring the ability to continue operations and attract more investments, according to the Arab World News Agency.
Idris said before the House of Representatives’ Planning and Budget Committee during a discussion on the draft budget, program budget, and performance of the authority during the fiscal year 2024-2025 that the total value of the general budget is 1.716 trillion pounds, compared to 1.498 trillion during the current fiscal year.
He added that the expected revenues in the draft budget for the next fiscal year amount to 1.598 trillion pounds, compared to 1.327 trillion pounds in the current year.
He said that the total capital uses in the budget amount to 163.158 billion pounds in the fiscal year 2024-2025, compared to 170.684 billion pounds in the fiscal year 2023-2024.
The fiscal year in Egypt begins in July and ends in June of each year.
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