Cairo – Egypt recorded a budget deficit of EGP 410.8 billion during the first ten months (10M) of fiscal year (FY) 2021/2022, representing 5.17% of gross domestic product (GDP), compared to EGP 379.7 billion or 5.48% of GDP in the year-ago period, the Middle East News Agency (MENA) reported. The total revenues rose by 9.8% to EGP 918.5 billion in the July-April period of FY21/22, compared to EGP 836.4 billion in the same period of the earlier year, according to a report published by the Ministry of Finance. Tax revenues jumped by around 79% year-on-year (YoY) in 10M-21/22. Meanwhile, the total expenditures grew by 10.2% YoY to EGP 1.33 trillion 10M-21/22, compared to EGP 1.21 trillion. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).

Source: The North Africa Journal May 31, 2022 12:35 UTC