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FinancialNews


  • 15-02-21

    Egypt: Budget deficit declines to 4.4 percent

    (MENAFN)The whole budget deficit declined from 4.6 percent to 4.4 percent in the past seven months, in comparison to the financial indicators of the budget for 2020, according to Egyptian Finance Minister Mohamed Maait.

    Maait discussed the follow-up of “economic and financial performance indicators” with Egypt’s President Abdel Fattah El-Sisi, in the first seven months of 2021. This period saw a primary excess of LE18.1 billion (USD1.16 billion) with an augment of 16 percent in revenues compared to a boost in expenditures of 12.4 percent, he further stated.

    He referred to an enhance in the volume of government investments in diverse sectors, particularly in infrastructure and services, as well as a boost in expenditures supporting economic enlargement by about 23 percent, with a rate of LE392 billion.

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