CAIRO – 17 July 2024: Egypt’s annual revenues achieved annual growth of about 59.3 percent during FY 2023/2024, according to a statement by Minister of Finance, Ahmed Kouchouk during his meeting with Prime Minister, Mostafa Madbouly.
Egypt's general budget achieved a primary surplus of LE 857 billion during FY2023/2024, compared to about LE 164 billion in FY2022/2023, Kouchouk added.
The Ministry of Finance met the various needs of the education sector, which amounted to about LE256 billion, compared to about LE 230 billion in the original budget, the minister of finance added.
It also provided for the needs of the health sector, which amounted to about LE 180 billion, compared to about LE 148 billion in the original budget.
The public treasury paid the dues of the Insurance and Pensions Fund, which amounted to LE 185 billion.
It also paid all dues for supporting food supplies, with a value of LE 133 billion, compared to about LE 128 billion in the original budget.
He pointed out that the increase in the wages and salaries of workers in the budget agencies, and providing sufficient allocations for various support items and social protection programs, contributed to increasing expenditures at an annual growth rate of 37.4 percent.
The budget not only recorded a total deficit lower than the revised budget, amounting to approximately LE 706 billion, but it also highlighted a significant reduction in the overall deficit in the general budget for FY 2023/2024.
The deficit for that year stood at around LE 505 billion, a notable improvement compared to the previous fiscal year's deficit of approximately LE 610 billion.
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