Egypt’s Budget Deficit Rose to 5.51 Percent in July-NovemberSource: www.export-egypt.com 1/23/2024, Location: Africa |
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Egypt’s budget deficit rose to 5.51 percent of GDP between July and November 2024 from 3.37 percent during the same period last year, according to data released by the Ministry of Finance.
Meanwhile, the primary surplus grew to 0.51 percent of GDP in July-November from 0.17 percent a year before. A country's primary surplus refers to the government spending less current income from taxes and excludes interest paid on government debt. Total revenues surged by 31.3 percent year-on-year (YoY) to record around EGP 609 billion ($19.7 billion) in July-November, compared to the same period of last year. Total expenditures jumped 55.68 percent to EGP 1,258 billion ($40.7 billion) during the July-November period from EGP 808.52 billion ($26.2 billion) a year earlier. |
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