A report issued by the Egyptian Ministry of Finance showed that the total deficit of the public budget reached about 389.1 billion pounds during the period from July 2019 to last May (2020), compared to about 327.66 billion pounds during the same period of the last fiscal year, an increase of 61.44 billion pounds, or 18.7 percent.
According to the data of the Ministry of Finance, the total deficit was recorded during the 11 months ending in last May, about 6.5% of GDP, compared to about 6.2% of GDP during the same period in the previous year.
On the other hand, the data of the Egyptian MOF showed, an achievement of initial surplus of about 51.6 billion pounds during the 11 months, compared to about 58.2 billion pounds during the same period of the previous year, while total revenues increased by 2.2% to record about 787 billion pounds against about 770 billion Pounds during the same period in the previous fiscal year. On the other hand, the tax revenues decreased by 2.4 percent to achieve about 601.4 billion pounds compared to 616.3 billion pounds, while non-tax revenues increased by 31.7 billion pounds to achieve about 185.4 billion pounds during the study month compared to about 153.7 billion pounds.
Source (Al-Arabiya.net website, Edited)
