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· Egypt’s total fiscal deficit during July to May of 2019-20 was LE 389.1 billion, compared to LE 327.66 billion during the same period of 2018-19, according to the data released by the Ministry of Finance
· The public expenditure increased by 6.8 percent and reached LE 1.1 trillion in 11 months, compared to LE 1.096 trillion during the same period in the previous fiscal year
Egypt’s total fiscal deficit during July to May of 2019-20 was LE 389.1 billion, compared to LE 327.66 billion during the same period of 2018-19, according to the data released by the Ministry of Finance.
The total deficit during the 11 months ended in May was 6.5 percent of GDP as against 6.2 percent of GDP during the same period in the previous year, according to the report.
An initial surplus of LE 51.6 billion during the 11 months was registered, compared to LE 58.2 billion during the same period in the previous year. The total revenue increased by 2.2 percent, to record LE 787 billion, up from LE 770 billion during the same period in 2018-19.
The total expenditure increased by 6.8 percent and reached LE 1.1 trillion in 11 months, compared to LE 1.096 trillion during the same period in the previous fiscal year. Wages and compensation for workers in the state perched to LE 264 billion, up from LE 243.3 billion in the previous year. At the same time, interest expenses rose to LE 440.6 billion, compared to LE 385.8 billion. Expenditure towards subsidies, grants and social benefits fell to LE 195.8 billion, from a peak of LE 237 billion.
