CAIRO, June 4, 2018 (MENA) - Egypt's Finance Minister Amr el Garhi said on Monday that the total tax proceeds the ministry seeks to collect in 2022 is EGP 1.4 trillion pounds. Addressing the parliament, Garhi said expected tax toll in the 2018/2019 fiscal year is estimated at 770 billion pounds against 604 billion pounds in the previous fiscal year. In 2022, the ministry targets a budget deficit less than 4 percent of the Gross Domestic Product, he added. Garhi was speaking at a parliamentary session devoted to debates on the public report on the 2018/2019-2021/2022 Sustainable Development Plan, the draft State budget, draft budgets of the general economic bodies and the draft budget of the National Authority for Military Production. He said the government is trying to revamp tax management mechanism in a way that will increase tax collection without increasing new fees.
