Cairo – Mubasher: Egypt’s budget deficit declined to 5.6% of gross domestic product (GDP) during the first 10 months of fiscal year 2018/2019, versus 6.7% in the prior-year period, according to the Ministry of Finance’s (MoF) monthly report.
The state’s budget deficit recorded EGP 296.51 billion from July 2018 to the end of April 2019, versus EGP 297.58 billion in the same period of FY17/18, the MoF revealed.
The North African nation has achieved a primary surplus of EGP 54.8 billion during the ten-month period ended 30 April, compared to EGP 6.7 billion in the year-ago period, the report said.
The ministry also highlighted that Egypt’s revenue growth rate accelerated to 18.9%, while the government spending grew to 12.8%.
