Cairo – Mubasher: Egypt’s ministry of finance said it expects the state budget deficit to near 9.8% of the gross domestic product (GDP) in the fiscal year 2016/17, compared with 11.5% recorded in FY15/16.
The country’s budget deficit is expected to reach EGP 319.46 billion in FY16/17, according to the ministry of finance.
The total pubic revenues amount to around EGP 669.7 billion, where the revenues through taxes amount to EGP 433 billion, while the non-tax revenues amount to EGP 2.2 billion, according to the finance ministry.
The public spending increased to EGP 974.7 billion in FY15/16, up from EGP 829 billion in the previous year.
Egypt’s budget deficit targets GDP of EGP 3.2 trillion in FY16/17.
