President Abdel Fattah El Sisi issued a presidential decree approving the budget of the Egyptian Radio and Television Union (ERTU) for the 2016/2017 fiscal year.

The decree of the 12.2-million-pound budget was published in the Gazette.

According to the budget, revenues were estimated in the 2016/2017 fiscal at 1.7 billion pound while losses were put at 4.6 billion pounds.

Expenditure is estimated at 6.4 billion pounds.

The decree prohibited the ERTU to make any overdraft motion from the Central Bank of Egypt or any other banks unless after being approved by the cabinet. 

Source : MENA