Egypt's budget deficit hit EGP 368 bln in 8 months: Finance ministry

MENA , Thursday 24 Mar 2022

Egypt's budget deficit hit EGP 368 billion from July 2021 to February 2022, compared to EGP 320 billion during the same period a year earlier, the Finance Ministry said in a report Thursday.

Finance ministry

The ministry stated that public revenues surged by 9.2 percent from July 2021 to February 2022 to record EGP 683.3 billion against EGP 625.5 billion in the same period a year earlier, while overall expenditures rose by 11.9 percent to 1.053 trillion in the eight months, versus EGP 941.6 billion in the same period the previous year.

The ministry explained that the state budget managed to meet the increase in the financial allocations for health, education and public investments, wages and social protection programs, despite the negative impact of the coronavirus pandemic on the world's economy.

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