To begin with, the goal of gender budgeting is to address gender inequity and the empowerment of women via the use of fiscal policy and management. The examination of how various genders are impacted by policies and related budgets is also known as gender budgeting. The strategy does not call for budgets that are different for men and women. Rather, it entails proactively determining how expenditure affects gender equality, which will help to better target funding decisions and provide better results.

General Overview

First of all, it is important to note that the proportion of women employed in the oil and gas sector is 22%, the same as it was in 2017. Progress was probably hampered by the epidemic and the ensuing shock to the oil price, which emphasizes the necessity of ongoing attention, dedication, and effort to advance diversity and inclusion (D&I). There are signs of hope: the number of D&I strategies and programs that businesses have launched has increased by almost 50% since 2017. This suggests that, despite a pause in results, the determination to take action and build the groundwork for future advancement has been stronger over time.

Furthermore, D&I activities have been executed by oil and gas corporations in a pretty easy and uncomplicated manner, in compliance with local regulatory and legal standards. Business executives and managers must work harder to advance diversity and inclusion in their recruiting practices, policies, and career-long support for staff members. They must also critically examine unconscious prejudice on a much larger scale. An endeavor like this necessitates a more deliberate and proactive strategy, driven from the top, that integrates D&I values into all significant company operations, particularly those that are HR-related.

Moving Forward

Consequently, it is important to address the challenges and concerns associated with ensuring gender budgeting in a predominantly male-dominated sector in order to be able to understand the next steps and identify ways in which the issues could be ameliorated. For instance, firstly, authorities can implement public employment policies to promote the hiring and advancement of women, amend laws to enhance gender equality and aid in the eradication of prejudice, and alter the structures of government, particularly budgetary procedures. However, government initiatives alone will not be sufficient to achieve gender equality, particularly in nations where social and cultural obstacles are substantial and serve to perpetuate inequality. Governmental initiatives can wield significant influence in either advancing or hindering gender equality, paralleling the impact of cultural shifts in perceptions and ideas regarding women’s roles in society.

Additionally, there is little research on how well gender policies work to achieve gender outcomes; much of the research on this topic focuses on program and performance-based budgeting implementation. Three particular components in particular can aid in enhancing GB practices: i) If the gender impact is complete or partial, it is important to ensure that gender-sensitive programs using markers; ii) Developing and improving the use of performance indicators to track and monitor program performance against specific outcomes; iii) Developing granular ex-post analysis, which calls for strong analytical capacity and resources. Better openness and the ability to track the efficacy of policies are made possible by this technique, which also helps to guide future decision-making.

With that, it is recognized that at the national, regional, local, and corporate levels, a number of previously shown actions may be implemented to address gender concerns throughout the value chains of the oil and gas sectors and to increase women’s access to resources that are productive, capacity building, and decision-making. Either as community members in impacted regions or as laborers in and suppliers to these sectors and its bigger suppliers, it is feasible to raise women’s share of the wealth created by oil and gas businesses in Africa with well-designed policies, strategies, and focused initiatives. This will help Egypt develop in a more inclusive and equitable manner.