The Egyptian Minister of Finance, Mohamed Maait, announced the achievement of an initial surplus of 200 million pounds during the first quarter of the current fiscal year 2021/2020, with the increase in revenues at rates higher than the increase Expenses.
During a meeting that included President Sisi and Prime Minister Mostafa Madbouly, Maait said on Monday: Revenues rose 16% compared to a 7% increase in expenses.
The minister added that the first surplus during the first four months of the current fiscal year amounted to 5.5 billion pounds, compared to 12 billion pounds a year ago, according to Reuters.
and the primary surplus is the excess of revenues over expenditures, excluding outstanding loan installments and interest.
and Maait said that the budget deficit in the first four months of the fiscal year 2021/2021 was 2.6%, compared to 3.1% in the same period last year.
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