Cairo – Mubasher: Egypt aims to raise its total annual revenue by 16% in fiscal year 2019/2020, data by the Ministry of Finance (MoF) revealed.
The Egyptian government plans to achieve revenues of EGP 1.134 billion in FY19/20, accounting for 18.4% of the state’s gross domestic product (GDP), the MoF said in a statement.
The general expenses, excluding interest payments, have been estimated at around EGP 1.005 billion for the FY19/20 general budget scheme, according to the statement.
The most populous Arab state is expected to achieve a primary surplus of 2% of GDP, data showed.
The finance minister previously announced that Egypt had achieved a primary surplus of EGP 21 billion during the first half of FY18/19.
Egypt plans to cut its total annual deficit to 8.4% in FY18/19, compared to 9.8% in the previous fiscal year.
