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Egypt Achieves Primary Budget Surplus of EGP21 Billion

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Egypt achieved a primary budget surplus of EGP 21 billion, representing 0.4 percent of gross domestic product (GDP) in July-December 2018, compared to a primary budget deficit of EGP 14 billion that constituted 0.3 percent of GDP a year earlier, according to an official report.

During a cabinet meeting chaired by Prime Minister Mostafa Madbouli on Wednesday, Minister of Finance Mohamed Maait reviewed a report about the main features of financial performance for the 2018/2019 fiscal year.

Egypt’s total budget deficit declined to 3.6 percent of GDP in the first half of the 2018/2019 fiscal year. (Shutterstock)

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