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Egypt's parliament approves 2017/18 budget, targets 4.6 percent economic growth

Ahram Online , Tuesday 4 Jul 2017
Ali Abdel-Al
Constitutional expert Ali Abdel-Al (Photo: Al-Ahram)
Views: 4370
Views: 4370

Egypt's House of Representatives approved on Tuesday the state budget for the 2017/18 fiscal year, which started on 1 July, Al-Ahram Arabic news website reported.

The Egyptian government is targeting 4.6 percent in economic growth in 2017/2018, compared to the 3.8 percent growth in 2016/17.

Egypt is also targeting a 9.1 percent deficit for 2017/2018, although estimates predict a deficit of 10.8 percent.

The government is also targeting EGP 818 billion in revenue in 2017/18, compared to EGP 644 billion in revenue in 2016/17.

The expected expenses in the 2017/18 budget are EGP 1.2 trillion, compared to the EGP 994 billion in the 2016/17 budget.

The 2017/18 budget is expected to be ratified by President Abdel-Fattah El-Sisi in the coming days. 

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