Official data showed that Egypt's GDP growth at constant prices declined by 1.6 percent to 2.3 percent in the second quarter of the fiscal year 2023-2024, compared to 3.9 percent in the same period a year ago.
The country's GDP grew 2.65 percent in the first quarter of the current fiscal year. Egypt's fiscal year begins on the first of July each year and ends in June.
Egyptian Finance Minister Mohamed Maait explained that the growth of tax revenues exceeded 38 percent since the beginning of the current fiscal year 2023-2024. Taxes are one of the pillars of revenues in Egypt's general budget.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
