Egypt’s fiscal year starts on July 1 and ends on June 30 of the next year.
Prime Minister Moustafa Madbouli said the government upped the proposed investment budget for the coming fiscal year to LE 230 billion against LE 150 billion in the current fiscal year.
Minister of Planning Hala el Saeed said Saturday that the fiscal year 2020/2021 plan was developed to be exceptional, unlike the previous two medium term sustainable development plans.
Investment and exports make up 74 percent of that growth.
Egypt Today breaks down the initial aims of the budget, the final report and what the microeconomic indicators mean for Egypt’s economy.
The program is expected to add LE 10 billion to state coffers in the new fiscal year 2018/19.
Egypt targets a budget deficit of 8.4 percent of GDP in the new budget of fiscal year 2018/19.
The Egyptian investment plan of the fiscal year 2018/2019 targets a gross domestic product (GDP) of 5.8 percent, according to the Ministry of Planning.
The company’s sales registered LE 3.1 billion between July and September, compared to LE 1.5 billion in the corresponding period last year.
The U.S. budget deficit widened to $666 billion for the fiscal year 2017 as record spending more than offset record receipts.
The Information Center of the Cabinet of Ministers denied on Wednesday rumors about controversial issues that were spreading from October 15 to October 18.
Minister of Planning Hala el Saeed said Saturday economic indicators for the first nine months of 2016/2017 fiscal year were positive.
The House of Representatives approved draft laws for the state’s economic and social strategy and the draft budget for the fiscal year 2017/18 on Tuesday.
The Parliament’s general session will discuss draft laws of the state’s economic and social strategy and draft budget for fiscal year 2017/18.
The roads authority had already spent LE 8.5 billion this year.
The government is targeting a budget deficit of 9.1 percent of GDP in FY2017/18.
Petroleum Ministry revenues expected to record a L.E 4.2 billion ($232.36 million) increase to LE 9.1 billion.
Renaissance Capital’s second annual Egypt Investor Conference kicked off Monday in Cape Town, South Africa, on April 24-25, the leading investment bank stated on Sunday
The Egyptian cabinet approved the new budget for the 2017/18 fiscal year (to start July 1) on Wednesday.