Al-Sisi reviews Egypt's food security, strategic commodity reserves    Egypt signs strategic agreements to attract global investment in gold, mineral exploration    Syria says it will defend its territory after Israeli strikes in Suwayda    Egyptian Exchange ends mixed on July 15    Suez Canal vehicle carrier traffic set to rebound by 20% in H2: SCA chief    Tut Group launches its operations in Egyptian market for exporting Egyptian products    China's urban jobless rate eases in June '25    Egypt's Health Minister reviews drug authority cooperation with WHO    Egypt urges EU support for Gaza ceasefire, reconstruction at Brussels talks    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    Health Ministry denies claims of meningitis-related deaths among siblings    Egypt, Mexico explore joint action on environment, sustainability    Egypt, Mexico discuss environmental cooperation, combating desertification    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger        Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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



Egypt's government approves FY2018/19 budgeting, eyes 5.8% GDP growth
Published in Amwal Al Ghad on 20 - 03 - 2018

The Egyptian government has approved the budget for financial year 2018/2019, aiming at GDP growth of 5.8 percent, Prime Minister Sherif Ismail said on Sunday, according to a Cabinet statement.
The new budget includes investments worth EGP 100 million, up from EGP 70 billion this year, to be spent on national projects and public services, the prime minister said.
The 5.8 percent GDP growth target is an increase on the 5.2 percent laid out in the 2017-18 budget.
The new budget is due to be presented to parliament for approval at the end of the month.
Valued at EGP 1.412 trillion, the new budget sets a target for decreasing the total budget deficit to 8.4 percent of GDP, in addition to achieving a primary surplus.
In January, Deputy Minister of Finance Mohamed Mait told Reuters that Egypt's budget deficit was expected to reach 9.4 percent of GDP in the year 2017-18.
The World Bank said in October that it expected Egypt's budget deficit would ease to 8.8 percent in the 2017-18 fiscal year.
Finance Minister Amr El-Garhy had said in January that the government is on track to achieve a targeted primary surplus of 0.2 percent of GDP by the end of fiscal year 2017-18.
As for public debt, the target for financial year 2018-19 is set at 97 percent of GDP, and 88 percent of GDP the following year. Source: Ahram Online


Clic here to read the story from its source.