Egypt's budget deficit hits LE 367.3B, primary surplus records LE25.5B within 6 months

CAIRO - 7 March 2023: Egypt's budget deficit as a percentage of the gross domestic product (GDP) increased during the first half of the current fiscal year to 4 percent, compared to 3.6 percent during the same period of the last fiscal year.

 

According to the monthly report of the Ministry of Finance, Egypt's budget deficit rose to LE 367.39 billion during the period from July to the end of December 2022, compared to LE 285.13 billion during the same period last year.

 

On the other hand, Egypt's budget achieved a primary surplus - the difference between revenues and expenditures, excluding debt interest expenses - about LE 25.5 billion during the first half of the current fiscal year.

 

Egypt's revenues rose during the first six months of the current fiscal year to LE 572.55 billion, compared to LE 499.63 billion in the same period of the last fiscal year.

 

Egypt's expenditures rose during the period to LE 940.8 billion, compared to LE 785.78 billion during the comparative period of the previous fiscal year.