The Egyptian Ministry of Finance revealed that the new budget for the fiscal year 2023-2024 is more stimulating for economic recovery, as expenditures amounted to about 3 trillion pounds (about 97 billion dollars), compared to 2.1 trillion pounds in revenues (about 67.9 billion dollars), bringing the budget deficit to approximately 29 billion dollars.
The Egyptian Minister of Finance, Dr. Mohamed Maait, stressed, "The ministry is committed to providing the necessary funding to meet the basic needs of Egyptians, in implementation of presidential directives to work continuously to alleviate the global inflationary wave." Considering that, "the state treasury bears the difference in the prices of goods and services, in light of the intertwined global crises, and the consequent disruption in supply chains."
Source (Alkhaleej Emirati Newspaper, Edited)
