Cairo - Mubasher: The Egyptian state budget deficit declined by 1.9% between July and September according to the monthly report of the ministry of finance (MoF).
During that period the budget deficit reached EGP 76.8 billion, nearly 2.4% of the country’s total GDP, compared to around EGP 78.3 billion, or 2.8% of GDP in the same period in the year before, the report showed.
The Egyptian finance minister, Amr Al-Garhy previously said that the budget deficit in the fiscal year 2016-2017 is estimated at nearly EGP 319.4 billon, which amounts to 9.8% of the total GDP.
The report indicated that public revenues decreased 3.2% year-on-year to EGP 96.8 billion, while public expenditure increased by 1.29% to EGP 172.2 billion.
