Egypt’s public revenues mark LE 805.7B in 2017/18: CBE

CAIRO – 30 December 2018: Egypt’s total public revenues amounted to LE 805.7 billion during the last fiscal year 2017/2018, according to the Central Bank of Egypt (CBE).

CBE added that the total expenditure hit 1.229 trillion, bringing the total deficit to LE 432 billion, or 9.8 percent of Egypt's gross domestic product (GDP).

The Egyptian economy witnessed progress in several indicators during 2017 and 2018 after applying the economic reforms starting mid-2016. The most significant successes were declining the inflation and unemployment rates and boosting foreign reserves.

Egypt's economic indicators of 2017, 2018

CAIRO - 16 December 2018: The Egyptian economy witnessed progress in several indicators during 2017 and 2018 after applying the economic reforms since mid-2016. The most significant successes were declining the inflation and unemployment rates and boosting foreign reserves.

During 2017 and 2018, the foreign reserves jumped from $36.7 billion to $44.5 billion for the first time in the foreign monetary reserves' history, which enhances the central bank's capabilities to import commodities, and thus provide appropriate environment to attract more foreign investments to Egypt.

Economic indicators up in 2018 - Cabinet

CAIRO, Dec 13 (MENA) - All economic indicators in 2018 showed a tangible improvement, according to the media center of the cabinet on Thursday. Economic growth rose from 4.2% to 5.3% during the 2017/2018 fiscal year while unemployment rate declined from 12% to 9.9%.

Regarding 2018/2019 budget, it included expenditures with a total of LE 1.41 trillion, including total expenditures of wages and pensions that recorded LE 270.09 billion, and expenses of the purchase of goods and services that reached LE 60.12 billion.
While the revenues, which are projected to reach a total of LE 989.2 billion, and taxes and tariff yields contribute LE 770.3 billion to the new budget’s revenues.

Sisi ratifies 2018/19 budget

CAIRO - 5 July 2018: President Abdel Fatah al-Sisi issued Law No. 100 of 2018 approving the state budget for the fiscal year 2018-2019.

A look at 2018/2019 budget in Parliament

CAIRO - 6 June 2018: Twenty five days before the new fiscal year starts, the Egyptian Parliament approved the 2018/2019 budget after discussing all its items. During the upcoming days, the final draft of the budget will be sent to President Abdel Fatah al-Sisi to ratify the budget in order to be taken into action.