Cairo – Mubasher: Egypt’s overall budget deficit widened to EGP 389.1 billion during the first 11 months of fiscal year 2019/2020, compared to EGP 327.66 billion in the year-ago period, official data showed.
The overall debt deficit accounted for 6.5% of the gross domestic product (GDP) during the 11-month period ended on 31 May, compared to 6.5% in the corresponding period a year earlier, the Ministry of Finance said in its monthly report released on Monday
Moreover, the most populous Arab nation achieved a primary surplus of EGP 51.6 billion during the 11 months, down from EGP 58.2 billion in the prior-year period.
Total revenues increased by 2.2% to EGP 787 billion from EGP 770 billion, while expenditures grew by 6.8% to EGP 1.1 trillion from EGP 1.096 trillion.
