budget deficit

Budget deficit grows during first 2M of FY2023/2024, Finance Ministry

Mon, 13 Nov 2023 - 05:37 GMT

Egypt’s debt-to-GDP ratio hit 95.6 percent in FY2022/2023, with the GDP recording LE 9.8 trillion ($318,23 billion)

Egypt's budget deficit hits LE 367.3B, primary surplus records LE25.5B within 6 months

Tue, 07 Mar 2023 - 03:19 GMT

Egypt's budget deficit rose to LE 367.39 billion during the period from July to the end of December 2022, compared to LE 285.13 billion during the same period last year.

Egypt plans to lower budget deficit to 4%, descend debt to 72% in 5 years: Maait

Mon, 24 Oct 2022 - 09:56 GMT

Maait elaborated that Egypt’s budget deficit recorded its highest rate during the period between 1980 to 1985, reaching 13.8 percent, before it started to decline to range from 4.4 percent to 6 percent.

Egypt achieves highest growth rate at 6.6% since 2008: Finance Minister

Mon, 29 Aug 2022 - 04:32 GMT

Maait added Monday during a conference to review the financial performance indicators for the current fiscal year budget (2022/2023) that the unemployment rate fell to 7.2 percent in June 2022 by providing 826,000 jobs.

Egypt's budget deficit hits LE 436.6B during 11 months

Mon, 27 Jun 2022 - 05:42 GMT

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.

Egypt targets to reduce budget deficit to 6.1% during 2022/23

Mon, 09 May 2022 - 12:24 GMT

The draft revealed the state’s aim to achieve a primary budget surplus of 1.5 percent of GDP during the 2022-2023 fiscal year.

Egypt's budget deficit to GDP dips to 4.9% during 1st nine months of 2021/22

Tue, 26 Apr 2022 - 04:13 GMT

Tax revenue also increased by 12.8 percent, in addition to maintaining the budget's achievement of a primary surplus, according to Minister of Finance Mohamed Maait.

Egypt achieved primary surplus of 1.46% of GDP in 2020/21

Wed, 20 Apr 2022 - 02:47 GMT

Expenditure on subsidizing food commodities rose to LE 83 billion, compared to LE 80.4 billion in the 2020-2021 fiscal year, with an increase of 3.2 percent, and actual spending on the social protection sector increased by 16.5 percent over the 2020-2021 fiscal year.

Egypt's budget deficit hit LE368B in 8 months: Finance Ministry

Thu, 24 Mar 2022 - 04:21 GMT

The ministry stated that public revenues surged by 9.2 percent from July 2021 to February 2022 to record LE 683.3 billion against LE 625.5 billion in the same period a year earlier.

Egypt's budget deficit rises to LE 220B in 4 months

Thu, 18 Nov 2021 - 10:35 GMT

According to the monthly finance report, the budget deficit rose to 3.1 percent as a percentage of the gross domestic product (GDP), compared to 2.6 percent of GDP during the same period of 2020/2021.

Finance Ministry: General budget deficit down 6.3% in first half of 2020-2021

Thu, 25 Mar 2021 - 01:47 GMT

In a statement on Thursday, Finance Minister Mohamed Maait said the ministry issued a financial performance assessment report of the first six months of the 2020-2021 fiscal year.

Egypt's budget deficit records LE 134.9B in Q1 of 20/21

Tue, 08 Dec 2020 - 03:01 GMT

Total revenues rose by 18.4 percent to record LE 204.7 billion in July – September period of 2020/2021, compared to LE 172.9 billion during the same period of the previous fiscal year.

Egypt targets slashing budget deficit to 6.5% in FY 2021/22, says ministry

Tue, 17 Nov 2020 - 01:53 GMT

In the coming years, the government aims to continue slashing the debt of the State's general budget bodies from 87 percent of GDP in June 2020 to about 77 percent of GDP by June 2024, it said.

Finance min.: Overall deficit decreased by 7.8% despite COVID-19

Wed, 29 Jul 2020 - 01:58 GMT

This came during a cabinet meeting that was held via the video conference to discuss the initial estimations of the financial performance of the 2019-20 fiscal year.

Finance Ministry targets reducing budget deficit to LE 415.2B in FY 2021/22

Wed, 03 Jun 2020 - 04:01 GMT

The ministry seeks to increase the tax revenues to hit LE 1.059 billion and decrease interests to reach LE 528.9 billion.

Egypt expects 19/20 budget deficit to increase to 7.8-7.9% due to COVID-19

Tue, 05 May 2020 - 03:41 GMT

Ma’it added that the budget project for the coming fiscal year 2020/2021 was expected to achieve an initial surplus of 2 percent, but that after the occurrence of the corona virus crisis, this surplus is expected to drop to only 0.6 percent.

Egypt's budget deficit hits LE 267.99B in 7 months: ministry

Thu, 16 Apr 2020 - 04:16 GMT

The budget’s current deficit accounts for 4.4 percent of the gross domestic product (GDP), against 4.1 percent last year, the ministry added.

Egypt targets budget deficit of 6% in 20/21

Mon, 09 Sep 2019 - 01:21 GMT

Ma’it added that it’s expected to achieve a budget deficit of 7.2 percent in the current fiscal year, compared to around 13 percent 3 years ago.

Sisi urges working to reduce public debt, budget deficit

Mon, 15 Jul 2019 - 11:01 GMT

Sisi urged carrying out reforms in order to enhance confidence in the Egyptian economy.

Egypt targets growth rate of 6.1% in 2019/20

Wed, 20 Mar 2019 - 11:42 GMT

Egypt targets to reduce the budget deficit to 7.2 percent during 2019/2020, and to raise the growth rate to 6.1 percent, Minister of Finance Mohamed Ma’it said.