Egypt’s budget deficit up 20% in Q1

Cairo – Mubasher: A recent report by the Egyptian finance ministry showed an increase in budget deficit by 20% during the first quarter of fiscal year 2018/2019. 

Deficit recorded EGP 102.35 billion between July and September, compared with EGP 85.25 billion during the same period last year. 

However, the deficit-to-GDP ratio remained stable at 1.9%. 

Public revenues in Q1 totalled EGP 174.5 billion, while expenditure reached EGP 276 billion. 

The Ministry of Finance estimates deficit for FY18/19 to amount to EGP 438.6 billion, or 8.4% of the gross domestic product (GDP), increasing by EGP 7.5 billion compared with last year’s estimates at EGP 430.8 billion. 

Mubasher Contribution Time: 13-Dec-2018 13:47 (GMT)
Mubasher Last Update Time: 13-Dec-2018 13:47 (GMT)