The contribution of tax revenues to supporting the Egyptian budget revenues amounted to 78.8 percent during the first four months of the current fiscal year, which began last July, compared to 75 percent in the previous fiscal year 2020-2021. While the non-tax revenues contributed by 21.2 percent, as the total Egyptian budget revenues amounted to about 311.3 billion pounds (about 19.8 billion dollars) during the period (July-October 2021).
Budget revenues achieved a growth of 8.4 percent, offset by a growth in expenditures of 16.6 percent to reach 530.7 billion pounds, due to the rise in social expenditures and the benefits of domestic and foreign debts. The total budget deficit rose during this period to 3.07 percent, recording 219.812 billion pounds, compared to 2.68 percent, or 171.372 billion pounds, compared to the corresponding period of the last fiscal year, as a result of the widening gap between revenues and expenditures.
The Egyptian Minister of Finance, Mohamed Maait, stated that the total revenues in the final account of the general budget for the fiscal year 2020-2021 amounted to one trillion and 108.6 billion pounds (approximately $70.6 billion), of which 834 billion pounds are tax revenues, which represents 75 percent of public revenues, an increase of 97 billion pounds, compared to the proceeds of the fiscal year 2019-2020 of 736.9 billion pounds.
Source (The New Arab Newspaper, Edited)
