Cairo – Mubasher: Egypt’s Ministry of Planning, Follow-Up, and Administrative Reform stated that the North African country would allocate EGP 10.8 billion ($630 million) to the Informal Settlements Development Fund (ISDF) during the fiscal year 2019/2020.

The new allocation will see the development of nine districts including 1.4 million residential units.

Egypt’s FY19/20 budget will also include appropriations for the building of 307,000 units, 51 sanitary projects in cities, and 295 sanitary projects in villages, the ministry said.

The Ministry of Finance (MoF) reported earlier in May that Egypt’s targeted total budget deficit for the fiscal year 2019/2020 stood at EGP 445 billion ($25.55 billion), or 7.2% of GDP, compared to a total deficit of EGP 439 billion in the current FY.