Egypt’s budget deficit below 5% in first 8 months: deputy finance minister

Follow-ups -eshrag News:

Wed, 2022-03-16 16:42

RIYADH: Egypt’s total budget deficit will be below 5 percent in the first eight months of the 2021-22 fiscal year, deputy finance minister Ahmed Kouchouk told Asharq.

The total deficit in the period from July 2021 to January 2022 has approached 3.7 percent. It is expected to remain stable during the rest of the current fiscal year compared to last year, he added.

Despite the economic turmoil and the global geopolitical tensions, the ministry aims to end the current fiscal year according to the planned basic goals, Kouchouk said.

He added that Egypt could be affected by a 1 to 2 percent decline in its gross domestic product, but claimed economic performance will be positive.

Main category: 
Business & Economy

Egypt tightens wheat law, Africa’s biggest lender to host investment forum to raise production

Noting that the news was copied from another site and all rights reserved to the original source.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button