Investments financed by public treasury hit LE82B within 6 months

CAIRO - 19 January 2022: Investments funded by the state’s public treasury rose 12 percent during the first half of the current fiscal year 2021/2022, from July to December, to LE 82 billion, compared to LE 73 billion during the same period of the previous fiscal year, according to Finance Minister Mohamed Maait.

Maait said In a statement issued, Wednesday, that the needs of supporting food commodities were funded by about LE 26.9 billion.

This came during the weekly meeting of the Egyptian Cabinet, Wednesday.

The Minister also reviewed the preliminary estimates of the financial indicators for the fiscal year 2021/2022, explaining that it is intended to reduce the budget deficit to 6.9 percent, in light of the actual performance during the period from July to December 2021.

He added that it is also targeted to return the downward path of the debt-to-GDP ratio of budgetary agencies.