Cairo – Mubasher: Egypt’s primary budget surplus grew to EGP 58.2 billion from July 2018 to the end of May 2019, or 1.1% of the GDP, compared to EGP 1.9 billion, or 0.04% of GDP, in the year-ago period.
The primary surplus is the difference between revenue and expenses after the deduction of debt service, according to the Ministry of Finance’s (MoF) monthly report.
The total budget deficit declined to EGP 327.66 billion, or 6.2%, during the first eleven months of the previous fiscal year, against EGP 337.56 billion the year before. Egyptian GDP is expected to reach EGP 5.25 trillion.
From July 2018 to the end of May 2019, Egypt’s total revenue recorded EGP 764.6 billion, while total expenses registered EGP 1.09 trillion.
