Minister of Finance Youssef Boutros-Ghali said that revenues of sales taxes on goods and services during July and August 2010 reached LE 9.8 billion, up by 15 percent compared to the same period last year, according to official reports.
In its report on the performance of the general budget during July and August, the Ministry of Finance said that total public revenues increased by 1.2 percent to reach LE 23 billion compared to LE 22.7 billion during the same period last fiscal year.
Public spending also rose by 10.5 percent, reaching LE 52.3 billion. Last year it amounted to LE 47.4 billion. This increase is the direct result of wage and compensation boosts to LE 15.2 billion; LE 1.2 billion more than the same period last year, according to the report.