Ministry of Finance in Cairo.
Meanwhile, the primary surplus grew to 0.51 percent of GDP in July-November from 0.17 percent a year before.
A country's primary surplus refers to the government spending less current income from taxes and excludes interest paid on government debt.
Total revenues surged by 31.3 percent year-on-year (YoY) to record around EGP 609 billion ($19.7 billion) in July-November, compared to the same period of last year.
Total expenditures jumped 55.68 percent to EGP 1,258 billion ($40.7 billion) during the July-November period from EGP 808.52 billion ($26.2 billion) a year earlier.
Egypt's budget deficit accounted for 6.1 percent of GDP in FY 2022/2023. However, the country achieved a $882 million surplus in its balance of payment (BoP) in the same year.
The government increased its budget deficit estimate to 6.9 percent of GDP for FY 2023/2024, which started on 1 July amid the global economic crisis.
Egypt’s GDP stood at EGP 10.2 trillion ($330 billion) in FY2022/2023, as per data released by the Ministry of Planning.
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