Egyptian Finance Minister Mohamed Maait revealed that Egypt recorded a real growth rate of 4.2 percent, according to the preliminary results of the final account of the budget of the last fiscal year, as the fiscal year ends at the end of June of each year.
"The total deficit reached 6.2 percent in the fiscal year 2022-2023, up from about 6.1 percent during the previous fiscal year. He attributed this to several factors, including "rising interest rates, exchange rate changes, and inflationary effects. He explained that "maintaining the deficit rate at 6.2 percent, in light of international changes and the consequent urgent and continuous interventions to contain the negative repercussions and extend social protection networks, indicates the Egyptian state's ability to manage public finances wisely."
Source (Al-Sharq Al-Awsat Newspaper, Edited)
