CAIRO - 27 June 2022: Egypt's general budget deficit amounted to LE 436.6 billion, equivalent to 5.5 percent of the gross domestic product (GDP) during the period (July-May) 2021/2022, compared to LE 412.9 billion, equivalent to 5.9 percent of GDP during the same period of the previous fiscal year.
The Ministry of Finance stated, in a report, Monday, that the primary surplus amounted to about LE 71.9 billion, or 0.91 percent of the GDP during 11 months.
It pointed out that total revenues increased by 12.3 percent to record LE 1.03 trillion, compared to LE 917.4 billion during the same period of the previous fiscal year, as receipts from tax revenues contribute about 79.2 percent of total revenues, and non-tax revenues by about 20.8 percent.
The total expenditures rose by 11.2 percent to reach LE 1.47 trillion in 11 months, compared to LE 1.3 trillion pounds during the same period of the previous fiscal year, according to the ministry.
It pointed to the continued achievement of the objectives of financial control, sustainability of public finance indicators, rationalization of consumption, and provision of sources of financing without prejudice to the safe limits of public debt.
The ministry also referred to supporting the protection network with providing good healthcare to citizens and increasing financial allocations to raise the efficiency of infrastructure, human development programs, education and health, which increases the productivity of the Egyptian citizen and helps improve the quality of his daily life.
It explained that despite the negative repercussions of the Coronavirus pandemic on economic activity, the state's general budget was able to meet the increase in allocations for the health and education sector, investments funded by the treasury, increase in wages, and meet the allocations for social protection programs.