Egypt announces an economic situation exceeding expectations
Egypt announces an economic situation exceeding expectations Egypt announces an economic situation exceeding expectations

Egypt announces an economic situation exceeding expectations

Abu Dhabi, United Arab Emirates:- Egypt is on the right path economically compared to the Arab countries, which took a new approach after the change of political systems. It announced that the budget deficit in Egypt during the first nine months of the fiscal year ended in June fell to 5.3% of GDP compared with 6.2% in the period Same year ago.

Egypt's budget recorded an initial surplus of 35.5 billion pounds ($ 2.07 billion) in the first nine months of the fiscal year 2018-2019, equivalent to 0.7 percent of gross domestic product, compared to a preliminary deficit of 7 billion pounds or 0.2 percent before Year. According to Reuters, the total surplus does not include debt payments.

The Egyptian finance minister stressed that Egypt aims to grow by 5.6 percent in the current fiscal year 2018-2019, compared with its previous target of 5.8 percent.

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