Cairo – Mubasher: Egypt achieved a primary surplus of EGP 38 billion during the first eight months of fiscal year 2019/2020, representing 0.6% of the country’s gross domestic product (GDP), compared to EGP 28.5 billion or 0.5% of GDP in the year-ago period, the finance minister Mohamed Maait said.
The country’s overall budget deficit accounted for 4.9% of GDP during the eight-month period ended on 29 February, remaining unchanged from the corresponding period a year earlier, Maait added in a press conference on Sunday.
The primary surplus is the difference between revenue and expenses after the deduction of debt service.
Maait further revealed that the country's draft budget for FY20/21 will be referred to the parliament before the end of March for approval.
