Egypt's budget deficit hit LE368B in 8 months: Finance Ministry

CAIRO - 24 March 2022: Egypt's budget deficit hit LE 368 billion from July 2021 to February 2022, compared to LE 320 billion during the same period a year earlier, the Finance Ministry said in a report Thursday.

 

The ministry stated that public revenues surged by 9.2 percent from July 2021 to February 2022 to record LE 683.3 billion against LE 625.5 billion in the same period a year earlier, while overall expenditures rose by 11.9 percent to LE 1.053 trillion in the eight months, versus LE 941.6 billion in the same period the previous year.

 

The ministry explained that the State budget managed to meet the increase in the financial allocations for health, education and public investments, wages and social protection programs, despite the negative impact of the coronavirus pandemic on the world's economy.