Interest payments increased by 45.2 percent year on year (YoY) to approximately EGP 1 trillion during the same period, reflecting the continued impact of high borrowing costs.
Meanwhile, total public expenditures rose by 32.6 percent compared to the same period of the previous fiscal year, reaching EGP 1.8 trillion.
In this respect, the report affirmed that the government's efforts continue to strengthen fiscal discipline and reprioritize public spending, with a focus on human development and citizen services.
Moreover, wages and employee compensation increased by 9.5 percent to reach EGP 263.6 billion. Purchases of goods and services also increased by EGP 1.8 billion, reaching EGP 70.6 billion.
Subsidies, grants, and social benefits rose by 28 percent to EGP 270 billion. This included an increase of EGP 16.5 billion in food subsidies to EGP 58.7 billion, EGP 5 billion in export subsidies to EGP 7 billion, and EGP 1.2 billion in industrial production support to EGP 3.2 billion.
Spending also included an increase of EGP 0.3 billion in farmer support to EGP 0.5 billion, EGP 0.7 billion in cash transfer programmes like Takaful and Karama to EGP 17.3 billion, EGP 4.5 billion in Treasury contributions to pension funds to EGP 75.7 billion, and EGP 0.4 billion in spending on citizens’ medical treatment to EGP 6 billion.
On the revenue side, total budget revenues rose by 33 percent YoY to around EGP 1 trillion during the July–November period.
Tax revenues jump
The report indicates that tax revenues reached about EGP 961.6 billion, up by EGP 247.3 billion, or 35 percent, compared to the same period of the previous fiscal year.
Tax collections from sovereign entities rose by around EGP 54.4 billion, or 31.5 percent, to EGP 227 billion, up from EGP 172.6 billion in the corresponding period of the previous fiscal year.
Tax revenues from non-sovereign entities grew by 35.6 percent, or EGP 192.9 billion, to EGP 734.6 billion, up from about EGP 541.7 billion in the same period of the previous fiscal year.
Key tax revenue components
Income tax revenues increased by EGP 95.7 billion, or 52.7 percent, to EGP 277.2 billion, driven by higher collections across most income tax categories.
Revenues from income tax on local wages rose by EGP 19 billion, or 34 percent, to EGP 74.7 billion. Tax revenues from commercial and industrial activities increased by EGP 9.3 billion, or 47.3 percent, to EGP 28.9 billion, while revenues from non-commercial professions rose by EGP 1.4 billion, or 42.2 percent, to EGP 4.6 billion.
Corporate tax revenues showed strong growth, rising by EGP 66.5 billion, or 66.1 percent, to EGP 167.2 billion. This included an increase of EGP 45.7 billion, or 69.3 percent, in taxes from other companies to EGP 111.6 billion, and an increase of EGP 10.8 billion, or 31.1 percent, in taxes from the Suez Canal to EGP 45.6 billion.
Value-added tax (VAT) revenues increased by EGP 92.6 billion, or 27.6 percent, to EGP 428.3 billion, driven mainly by higher collections on goods and services.
VAT revenues from goods rose by EGP 41.3 billion, or 21 percent, to EGP 237.5 billion. This included an increase of EGP 23.2 billion in VAT on imported goods to EGP 157.2 billion and an increase of EGP 18 billion in VAT on locally produced goods to EGP 80.4 billion.
VAT revenues from services rose by EGP 19.1 billion, or 50.5 percent, to EGP 57 billion. This included increases of EGP 10.1 billion from hotels and restaurants to EGP 15.6 billion, EGP 4 billion from toll manufacturing services to EGP 21.6 billion, EGP 3.1 billion, or 35.7 percent, from international and domestic telecommunications services to EGP 12 billion, and EGP 1.9 billion from other services to EGP 7.8 billion.
Revenues from taxes on locally manufactured goods rose by EGP 21 billion, or 33.4 percent, to EGP 83.6 billion. Development fees increased by EGP 2.1 billion, or 30.8 percent, to EGP 9 billion, while stamp tax revenues rose by EGP 5.8 billion, or 38.6 percent, to EGP 20.7 billion.
Taxes on the use of goods increased by EGP 3 billion, or 20.2 percent, to EGP 18.3 billion, and taxes on specific services rose by EGP 0.4 billion, or 20.5 percent, to EGP 2.3 billion.
Property tax revenues rose by EGP 37.6 billion, or 26.2 percent, to EGP 181.4 billion, compared to EGP 143.8 billion in the same period of the previous fiscal year.
This increase was driven by higher taxes on treasury bills and bond yields, which rose by EGP 33.5 billion, or 25.1 percent, to EGP 167.4 billion, in addition to an increase of EGP 1.8 billion, or 29.7 percent, in vehicle taxes to EGP 7.9 billion.
Taxes on international trade also increased by EGP 7.7 billion, or 14.5 percent, to EGP 61.1 billion. Other tax revenues amounted to EGP 13.6 billion, reflecting increased revenues from movable capital transferred from the Central Bank of Egypt.
Non-tax revenues also rise
Non-tax revenues, which make up 12.6 percent of total revenues, reached about EGP 139 billion, up by more than 12 percent. This increase was mainly driven by a rise of EGP 2.7 billion in grants to EGP 5.1 billion, reflecting higher grants from government entities amounting to EGP 4.7 billion.
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