Cairo – Mubasher: Egypt achieved a primary surplus of EGP 5.2 billion, representing 0.1% of gross domestic product (GDP), in the first four months of fiscal year 2020/2021, compared to EGP 14.7 billion or 0.3% of GDP in the year-ago period.
Over the July-October period, the country registered an overall budget deficit of EGP 171 billion or 2.6% of GDP, down from EGP 180 billion or 3.1% of GDP in the corresponding period in FY19/20, the Minister of Finance, Mohamed Maait, said in a statement.
Despite the repercussions of the coronavirus (COVID-19) pandemic, the North African nation continued to achieve balanced financial indicators, Maait noted.
Revenues rose to EGP 287 billion in the four-month period ended 31 October, compared to EGP 249 billion in the same period a year earlier.
