Cairo – Mubasher: Egypt’s primary balance achieved a surplus of EGP 100 million in the first quarter (Q1) of fiscal year 2020/2021, despite the negative impact of the coronavirus (COVID-19) crisis on economy, the Minister of Finance, Mohamed Maait, revealed.
The country’s revenues rose by 18.4% during the July-September period, while expenditures grew by 11% due to the increase in governmental investments which jumped by 60% to EGP 40 billion, along with higher provisions for social security programmes and higher spending on health and education, Maait said in a statement.
This came during the weekly cabinet meeting held on Wednesday.
