CAIRO – 25 July 2021: Egypt’s Minister of Finance Mohamed Maait presented a number of important financial indicators related to improving economic growth rates, as the government succeeded in increasing state revenues by LE 119 billion, with a growth rate of 12.2 percent during 2020/2021. This came during the Minister’s meeting with President Abdel Fattah El-Sisi and the Prime Minister Mostafa Madbouly. The official spokesman for the Presidency of the Republic stated that the meeting dealt with the review of the financial performance that was achieved for the fiscal year 2020/2021. Maait also explained that Egypt came among the best countries in reducing the debt-to-GDP ratio, despite the Corona pandemic, which affected economic growth rates, revenues and expenditures and led many countries to increase debt rates. The developments in the development of the tax system were also discussed, including the electronic tax invoice project, electronic tax returns, as well as efforts to automate the main tax work procedures, as well as the electronic receipts project.

Source: Egypt Today July 25, 2021 18:11 UTC