Budget deficit hits LE 222.5 billion in 7 months: ministry

CAIRO - 14 March 2019: The State budget deficit hit LE 222.5 billion from July to January of 2018/2019, accounting for 4.2 percent of the Gross Domestic Product.

In a report, the ministry said revenues rose by 29 percent to hit LE 456.5 billion against LE 353.7 billion during the corresponding period of the previous fiscal year.

The expenditure increased by 19 percent to reach LE 678.4 billion compared to LE 570.1 billion.

Wages and compensations increased 17.5 percent to hit LE 153.4 billion.