Cairo – Mubasher: Egypt is looking to achieve a primary surplus of EGP 100 billion at the end of fiscal year 2018/2019, the finance minister said on Tuesday.

The Arab world's most populous country has not witnessed such a surplus in 20 to 30 years, Mohamed Maait told CNN Arabia on the sidelines of Davos 2019.

Maait indicated that Egypt has been able to generate around EGP 20.8 billion as a primary surplus in the first half of FY18/19.

He pointed out that H1-18/19 results ensure that Egypt’s general financials are on track in reaching its goals despite the challenges.

It is worth noting that Egypt is participating in the World Economic Forum (WEF), being held in Davos, Switzerland as of 22 January to 25 January, after almost five years of absence.

Last week, presidential spokesman Bassam Rady revealed the financial indicators of Egypt’s general budget, adding that primary surplus reached EGP 20.8 billion in the first six months of current fiscal year.