The Evaluation of Public Education Financing Policy in Egypt

Moving forward will only be materialized through investing in the nation's human capital. Human capital investment, through public education expenditure, is generally contributes directly and indirectly to economic development. Hence, many governments across the globe are trying to improve human capital by investing more in the education sector. But the issue is whether such a spending is of value, or it just represents a consumption spending rather than an investment one. On this ground, this paper is an attempt to evaluate the public education financing policy in Egypt during the period (1980-2015) in terms of three criteria; Adequacy, Equity, and Efficiency, in order to know the beneficiary of public education spending policy, and its effectiveness. The available data revealed that the share of public education spending out of GDP is still low compared to other developing countries with similar socio-economic conditions. Besides, there is an apparent spending bias toward higher education. Finally, although Egypt has made a significant progress towards its educational system; relating to enrollment rate, gender parity, the unemployment rate of educated individuals remains persistently high