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Latest in Tag: budget

Egypt targets 4% deficit by 2022: El-Garhy

Egypt’s Minister of Finance Amr El-Garhy said that his ministry aims to reduce the budget deficit to 4% by 2022, while continuing the economic reform programme, according to state-owned Middle East News Agency. El-Garhy’s statement came on the sidelines of the launch event of the “system of tax returns, discount, and collection, with the activation …

Mohamed Samir

Budget deficit records 2% in Q1 FY 2017/2018 

The total deficit of the Egyptian public budget during the first quarter (Q1) of the current fiscal year (FY) dropped to 2% of the GDP, reaching EGP 85.3bn, down 2.2% from EGP 76.8bn in the same period of the previous FY, according to the Ministry of Finance. According to the ministry, the deficit declined due …

Ahmed Ismail

Egypt’s budget deficit drops 1.6% in FY 2016/17

“Egypt`s budget deficit dropped to 10.9% of GDP instead of 12.5% during the past fiscal year (FY), which ended in 30 June, and the annual economic growth rate increased to 4.1%, which is above the expected rate,” said Alaa Youssef, the presidential spokesperson. Youssef said that the real GDP growth for different sectors rose this …

Nihal Mounir