Egypt's general budget achieves primary surplus LE 10.2bln at 0.1% of GDP
The monthly report of the Egyptian Ministry of Finance revealed that the state’s general budget achieved a primary surplus of EGP 10.2 billion during the period from July to September of the fiscal year 2022/2023, at a rate of 0.1% of GDP, compared to a deficit of 0.09% during the same period of the previous fiscal year.
The growth came thanks to an increase in budget revenues by 15.6% during the first quarter of the current fiscal year, to reach 258.9 billion pounds, despite the increase in banks by about 19.2% compared to the same period in the last fiscal year.
Over the past five years, the government has succeeded in many reform measures aimed at putting the Egyptian economy on its right track and raising the efficiency of services provided to citizens. The Ministry of Finance has also worked to continue achieving the goals of financial control, sustainability of public finance indicators, rationalization of consumption, and provision of financing sources without prejudice to the safe limits of public debt.