Egypt's budget deficit declined to EGP 39 bln in July

MENA , Tuesday 8 Oct 2019

Egypt's budget deficit declined to EGP 39.172 billion in July 2019 compared to EGP 51.514 billion in the same month of 2018, the finance ministry said on Tuesday.

The budget deficit declined by 0.6 percent of GDP, the ministry said in a report. 

Revenues increased by 18.6 percent to EGP 46.3 billion, up from EGP 39 billion in July 2018.

The ministry attributed the increase to a rise in tax revenues by 9.7 percent to EGP 38.6 billion, while non-tax revenues went up by EGP 3.9 billion to reach EGP 7.7 billion.

Total expenses decreased by 5.7 percent to EGP 85.2 billion, compared to EGP 90.4 billion in July 2018.

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