Assets and reserves of Egyptian banks abroad hit $19 billion in July: CBE    Egypt's Banque du Caire expects to sell minority stake by early 2020    Emaar Misr rejects lawsuit claiming land at Marassi development    Egypt arrests secretary general of top media body for alleged bribery: Source    UK's PM Boris Johnson opening Brexit bid: rip out Irish border backstop    airstrikes eyes Turkish army convoy in Syria, Turkey says    Most major Gulf stocks lifted by financial shares    Chelsea's Zouma recalls 'long journey' back to starting lineup    Sort out VAR plead Nuno, Solskjaer and Wolves fans    Tennis: Serena Williams set to begin 2020 season in Auckland    Egypt forces embark on joint military drills with Russia, Belarus    Iran's tanker heads to Greece; U.S. warns against helping vessel    Hong Kong leader sees 'way out' of chaos after peaceful protest    Liverpool thankful to have Egyptian star Salah on his frontline: Klopp    Russia says US cruise missile test is regrettable: TASS    Egypt's Baron Empain Palace to be reopen after renovation    European markets to open mixed as recession worries cool    Gold prices steady after slide below key $1,500 level    Court sentences six to death, 41 to lifetime imprisonment violence related case    Trump says he would release Mideast peace plan after Israeli elections    NBE announces EGP 2.5m prizes for handball youth teams for their world achievements    ACWA Power compares 3 bids to supply production units for Luxor power station    What do you know about gold alloying?    Jennifer Lopez evokes Egyptian outrage post her North Coast performance    Mediterranean diet tied to lower risk of gestational diabetes    Cairo's historic Tahrir square to be renovated – PM    Al-Sisi honours Egypt's scholars on Science Day    Unprecedented Glory: Egypt win Men's U-19 World Handball Championship    IS claims responsibility for suicide bombing killing 63 in Afghan wedding    Political parties gear up for parliamentary, senate, local elections    12th National Egyptian Theatre Festival fuel up public theatre art scene    28th Citadel Festival for Music and Singing embraces attendees with international troupes    Personalized cancer treatment wins FDA approval    A simple diet change could help live longer, reduce cardiovascular risks by 16%    Serbian Micho to be Zamalek's new coach: Egypt's Mortada Mansour    Cairo University tops 2019 Shanghai Academic Ranking    3 sentenced to death for 2016 killing of 4 Egyptian policemen    Ministry of Environment has a plan for "black clouds season"    Too early to estimate Nile's flooding volume: Irrigation Ministry    Sudan's key opposition may nominate economist Abdalla Hamdok for prime minister    Egypt to launch Bike for Every Citizen initiative soon    Egypt's Zamalek equal club record with 7-0 hammering of Somalia's Dekedaha    LA Opera declines details on longtime general director's investigation    Sudan opposition to nominate economist Abdalla Hamdok for prime minister: Sources    Egypt produces ‘Fraud' documentary on Muslim Brotherhood history    VIDEO: Egyptian Media Group releases ‘Scam,' documentary on ‘Muslim Brotherhood terrorist history'    Photo of Egyptologist Zahi Hawass to decorate NYC's Times Square to promote tourism to Egypt    T. Jefferson Parker tells latest tale in tight, vivid prose    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Egypt's primary budget surplus registers EGP 21 bln: Minister
Published in Ahram Online on 30 - 01 - 2019

Egypt achieved a primary budget surplus of EGP 21 billion, representing 0.4 percent of gross domestic product (GDP) in July-December 2018, compared to a primary budget deficit of EGP 14 billion that constituted 0.3 percent of GDP a year earlier, according to an official report.
During a cabinet meeting chaired by Prime Minister Mostafa Madbouli on Wednesday, Minister of Finance Mohamed Maait reviewed a report about the main features of financial performance for the 2018/2019 fiscal year.
Egypt's total budget deficit declined to 3.6 percent of GDP in the first half of the 2018/2019 fiscal year, compared to 4.2 percent of GDP during the same period last year, the minister said during the meeting.
This improvement in financial performance comes as a result of the continuity of enhancing the country's economy, its efforts to maintain fiscal consolidation of the general budget as well as implementing the economic and financial reform program.
The report noted that Egypt's government revenues registered an annual surge of 28 percent in July-December 2018, while the budget expenditures were estimated at 18 percent during the same period.
Tax revenues recorded an annual increase of 22.2 percent in the last six months of 2018, it added.

Clic here to read the story from its source.