Egypt achieved a primary surplus during the fiscal year 2021-2022, amounting to 1.3 percent of GDP. The performance presentation for the fiscal year 2021-2022 showed the ability of the Egyptian state to deal with international economic changes and absorb shocks, which established a positive impression of the resilience and solidity of the Egyptian economy among international financial institutions.
The Ministry of Finance was able to achieve positive results that made Egypt among a limited number of countries in the world that achieved a primary surplus of 1.3 percent of GDP, while most emerging countries achieved, on the other hand, a primary deficit of 4.7 percent.
The fiscal year 2021-2022 witnessed an annual growth rate of budget revenues approaching 20 percent, while the annual growth rate of total expenditures reached 14.8 percent, which helped achieve financial goals and reduce the budget deficit about GDP. While the total spending on investments amounted to 23 percent, thus achieving a major leap in this field compared to what was previously during the past financial years.
Source (Al-Arabiya.net Website, Edited)
