Egypt’s budget deficit falls to 2% in Q1 FY17/18

Cairo – Mubasher: Egypt’s budget deficit dropped to 2% year-on-year of gross domestic product (GDP) from 2.2% during the first quarter of fiscal year 2017/2018.

Total budget deficit recorded about EGP 85.3 billion in the three months ended September 2017, compared to EGP 76.8 billion in the prior-year period, according to the Ministry of Finance’s monthly bulletin. 

The country’s budget deficit declined 1.7% of GDP during the period between July and August of FY17/18, the ministry noted.

In October, finance minister Amr El-Garhy said that Egypt aims at reducing its annual budget deficit by 1% to 1.5% to reach 4% to 5% by 2022.

Mubasher Contribution Time: 07-Dec-2017 07:37 (GMT)
Mubasher Last Update Time: 07-Dec-2017 07:57 (GMT)

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