Cairo - Mubasher: The Egyptian ministry of finance (MoF) said in its monthly report that the country’s public revenues decreased by 3.3% in the first quarter of the fiscal year 2016-2017, due to the decline of non-tax revenue.
Revenues reached EGP 96.8 billion during the nine-month period that ended on 30 September, compared to nearly EGP 100.3 billion in the same period last year.
The general budget deficit reached EGP 76.8 billion during that period, nearly 2.4% of total GDP, compared to EGP 78.3 or 2.8% of GDP in the year before, the report indicated.
According to the report, non-tax revenue fell to EGP 32.6 billion from EGP 35.65 billion, while tax revenue reached EGP 64.11 billion compared to EGP 64.5 billion in the same quarter last year.
