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  • 25-01-22

    Egypt aims to increase profits by 13-15 percent

    (MENAFN) According to the Egyptian Deputy Minister of Finance for Financial Policies, the country is aiming to increase profits by 13 to 15 percent in the 2022/23 fiscal year budget to financially support wage increases.

    Based on Al Arabiya, Ahmed Kojak stated that higher profits would help assign allotments to enhance workers’ salaries, along with improving the nation’s infrastructure and lessening the government’s deficit.

    Egypt’s government aims to expand the economy by 5.7 percent in the 2022/23 fiscal year and to eliminate the debt’s percentage of GDP to under 90 percent. The Egyptian fiscal year begins from June and ends in July of next year.

    MENAFN25012022000045013568ID1103589691

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