By: Islam Fadl

Cairo – Mubasher: Egypt’s tax revenue from the yield on treasury bills (T-bills) and treasury bonds (T-bonds) rose by 7.15% year-on-year during the first 11 months of fiscal year 2018/2019, data released by the Ministry of Finance (MoF) showed.

Tax revenue from sovereign debt yields registered EGP 42.67 billion from July 2018 to last May, compared to EGP 39.82 billion during the year-ago period.

Egypt's tax revenues increased to EGP 613.38 billion in the 11-month period ended 31 May, compared to EGP 519.49 billion in the corresponding period a year earlier.

Tax revenues accounted for 80.2% of Egypt’s total revenues which recorded EGP 764.6 billion from July 2018 to last May, compared to EGP 639.1 billion in the prior-year period.

Translated by: Zeinab Adel