The Egyptian Minister of Planning and Economic Development, Hala Al-Saeed, indicated that "Egypt is targeting real GDP growth of 5.5 percent in the 2022-2023 fiscal year, which began on the first of July."
The growth rate of the Egyptian economy reached 6.2 percent in the fiscal year 2021-2022, which ended on June 30.
Egyptian President Abdel Fattah El-Sisi signed the law linking the state’s general budget for the fiscal year 2022-2023, which begins on July 1, according to the Egyptian presidency, the total budget deficit decreased to 6.1 percent of GDP in the 2021-2022 fiscal year, down from 6.8 percent in the previous year.
Egypt achieved a primary budget surplus of 1.3 percent of GDP at 97 billion pounds, while debt service costs fell to 32.8 percent of the public budget, compared to 35.8 percent in the 2020-2021 fiscal year. The revenue growth rate was about 20 percent, while the expenses growth rate was about 15 percent. The fiscal year for Egypt begins on July 1 and ends on June 30.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
