Cairo – Mubasher: Egypt’s total revenues rose by EGP 32.2 billion or 33% year-on-year in the first quarter of fiscal year 2017/2018, according to the Ministry of Finance’s monthly bulletin.
Egypt’s receipts recorded 3% of gross domestic product at EGP 129 billion in the three months ended September 2017, compared to revenues of EGP 96.8 billion, equivalent to 2.8% of GDP, in the year-ago period.
Tax revenues grew by EGP 33 billion to EGP 97.2 billion in the three-month period of 2017, representing 75.3% of total earnings, from EGP 64 billion in the corresponding period of the prior fiscal year.
Non-tax revenues fell to EGP 31.8 billion in Q1 of FY17/18, against EGP 32.7 billion in Q1 of FY16/18.
Egypt’s expenses stood at EGP 214.1 billion in Q1 of FY17/18, up from EGP 172.2 billion in the same quarter of FY16/18.
