Cairo – Mubasher: Egypt's budget deficit widened by EGP 120.5 billion, representing 1.7% of the gross domestic product (GDP), in the first two months of fiscal year (FY) 2021/2022, compared to EGP 93.2 billion, or 1.5% of GDP, in the year-ago period, the Middle East News Agency reported, citing official data.
The country's revenues increased by 11% to EGP 140 billion in the July-August period, compared to EGP 126 billion in the same period in FY20/21, the Ministry of Finance said in a report on Sunday.
Tax revenues make up 78.5% of total revenues, while non-tax revenues account for the remaining 21.5%.
Meanwhile, expenditures grew by 19.7% to EGP 261 billion in July and August, compared to EGP 218 billion in the corresponding months a year earlier.
