Cairo – Mubasher: Egypt aims to cut the total budget deficit to 7.2% in fiscal year 2019/2020, the finance minister said on Tuesday.
Egypt, the most populous Arab country targets, a gross domestic product (GDP) growth of 6.1%, Mohamed Maait added in a seminar.
Maait stressed that the country’s 2018/2019 budget does not need any additional support.
The Egyptian government had requested additional support of over EGP 100 billion to finance the 2016/2017 budget.
It is worth noting that Egypt’s budget deficit rose to EGP 222.52 billion in the period from July to January in FY18/19, versus EGP 218 billion in the prior-year period.
The North African state plans to cut the annual budget deficit to 8.4% in FY18/19.
