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Egypt targets EGP 415.2bn overall budget deficit in FY21/22

Egypt targets EGP 415.2bn overall budget deficit in FY21/22
The country’s revenues are estimated to be at EGP 1.351 trillion

Cairo – Mubasher: The Egyptian Ministry of Finance aims to slash the country’s overall budget deficit to EGP 415.2 billion, or 5% of the gross domestic product (GDP), in fiscal year 2021/2022, the Middle East News Agency (MENA) reported, citing a ministerial report.

The country’s revenues are estimated to be at EGP 1.351 trillion, while the total expenditures are seen at EGP 1.758 trillion in FY21/22.

In addition, the government is looking to increase tax revenues to EGP 1.059 trillion and reduce debt service to EGP 528.9 billion.