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FinancialNews
22-01-19
Egyptian surplus hits USD1.16b
(MENAFN) During the first half of the fiscal year 2018-19, Egypt was able to reach roughly USD1.16 billion in its surplus.
Figures were unveiled in a statement issued by Egyptian Finance Minister Mohamed Maait, and MENA news agency carried.
The finance minister revealed that "Egypt has made a preliminary surplus of 20.8 billion pounds which constituted 0.4 percent of the GDP compared with an initial deficit of 0.3 percent for the same period in the previous fiscal year."
Maait added that "Egypt adopts currently a policy based on encouraging investment in the substructure to lure private sector to pump funds in vital economic sectors."
He further highlighted the significant development seen in several basic economic sectors in Egypt, including sectors of construction and tourism.
MENAFN2201201900450000ID1098006609
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