CAIRO, March 15, 2018 - Prime Minister Sherif Ismail said on Thursday that the Cabinet would discuss on Sunday the draft budget for the Fiscal Year (FY)2018/19, targeting a 20 per cent growth in State revenues. Premier Ismail added that the budget seeks to achieve an initial surplus of 2 per cent of the Gross National Product , and shrink budget deficit to only 8.5 per cent of the Gross National Product. The state's budget for FY2018/19 is injecting more investment in developmental fields such as health, education, and infrastructure, he said, adding that the budget also targets an expenditure growth of only 13.6 per cent. In addition, the new budget aimed to reduce unemployment rate through the launching of new national developmental projects, increasing exports and opening up new overseas markets. In another development, Prime Minister Ismail travelled to Germany on Thursday for a medical follow-up checks after the surgical operation he had had few months ago. According to the Cabinet Media Centre, Mr. Sherif's visit to Germany will last for 24 hours.
