Cairo-Mubasher: Egypt's budget deficit stood at EGP 96.7 billion, or 3.4% of GDP for the first four months of the fiscal year 2015/16, against EGP 84.5 billion or 3.5% of GDP for the similar period of the previous year.
The budget deficit came as result on the increase of the revenues and expenses through this four month-period, said the country’s Ministry of Finance in a press statement on Thursday.
The total revenues went up 31.6% to EGP 133 billion, representing 4.7% of GDP, for this four months period of FY15/16, compared with EGP 101 billion or 4.2% of GDP for the same period a year earlier.
Meanwhile, the total expenses leaped 20.4% to EGP 221.2 billion , representing 7.8% of GDP, for the first four months of FY15/16, against EGP 183.7 billion or 7.6% of GDP for the corresponding period of the previous year.
Egypt's total budget deficit reached EGP 279.4 billion or 11.5% of GDP in the fiscal year 2014/2015.
