This came during the Finance Minister's presentation of the financial statement on the draft state budget for the fiscal year 2021/2022, before the plenary session of the House of Representatives, on Sunday, headed by Counselor Hanafy Gabali.
Mai’t added in a press conference that Egypt achieved a primary surplus of LE 30 billion (0.5 percent) during the first half of 2019/2020.
Egypt Today reviews the most significant indicators that Egypt achieved during July to December period of fiscal year 2018/2019.
Egypt’s financial indicators will continue to improve, Minister of Finance Mohamed Ma’it announced, confirming that the Egyptian economy is on the right path.
The minister added that the overall deficit of the budget declined to 2.5 percent of GDP, compared to 2.7 percent during the prior year.
Egypt achieved a primary fiscal surplus for the first time in 15 years, making 4 billion Egyptian pounds ($224 million), Kouchouk said in a news conference.