Maait also noted Expenditures also rose by 9 percent, in addition to achieving a primary surplus in the budget of about 93.1 billion pounds, or 1.4 percent of GDP, while reducing the total deficit from 8 percent to 7.4 percent.
A report issued by Ministry of Finance revealed that wage expenses and compensation for workers increased during the six months to LE 160 billion.
Total tax revenues rose by about 10 percent during the period from July to December 2020 to reach about LE 334 billion, compared to about LE 304 billion during the same period of the previous fiscal year.
Garhy added that tax yields also climbed 45 percent, compared to an average of 20 percent during the last three years.
he new budget for fiscal year 2019/19 targets to increase spending on public wages to LE 266 billion, while spending on social welfare will reach LE 332 billion.
The new budget targets expenditures of LE 1.41 trillion and GDP growth of five percent.
Egypt Today reviews the most significant numbers of the Egyptian railways’ financial indicators.
Expenditures registered LE 214.1 billion, while revenues stood at LE 129 billion.
Budget revenues hiked 33.2 percent, while expenditures went up 24.4 percent.