Cairo – Mubasher: Egypt’s budget deficit increased by 14.2% year-on-year in the first eight months of the fiscal year 2017/2018.
The deficit recorded EGP 258.9 billion in the eight-month period ended February 2018 (6% of the gross domestic product, GDP) versus EGP 226.6 billion (6.5% of the GDP) in the year-ago period, according to a report released by the Ministry of Finance (MoF).
Egypt’s total revenue from July 2017 to February 2018 reached EGP 430.7 billion (10% of GDP), while expenses registered EGP 687.9 billion (16% of the GDP) in the same period.
The targeted deficit in FY 2018/2019 budget is estimated at EGP 438.6 billion (8.4 of the GDP), the MoF revealed.
