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Egypt reveals economic targets for FY21/22

Egypt reveals economic targets for FY21/22
The government targets a budget deficit of 6.5% of GDP

Cairo – Mubasher: Egypt aims to achieve an average inflation rate of 3-9% during fiscal year 2021/2021, compared to the targeted 9% in FY20/21, according to data published on the Ministry of Finance’s website.

The country also seeks to reduce the average interest rate on treasury bills (T-bills) to 13% in the coming fiscal year from the targeted 13.5% in the current fiscal year.

In addition, the government targets an overall budget deficit of 6.5% of the gross domestic product (GDP), compared to the target of 6.3% in FY20/21.

Moreover, the country aims to record a debt-to-GDP ratio of 88% in FY21/22 from the targeted 83% in FY20/21.