Egypt budget deficit in FY 2017-18 down by 1.1 percent

Source: Xinhua| 2018-07-27 04:08:56|Editor: Mu Xuequan
Video PlayerClose

CAIRO, July 26 (Xinhua) -- Egypt's budget deficit in the 2017-18 fiscal year recorded 9.8 percent of gross domestic product (GDP), down from 10.9 percent in the previous fiscal year, an Egyptian official said Thursday.

According to Egyptian Finance Minister Mohamed Ma'it, this is the first time the deficit has fallen below the 10 percent benchmark for six years.

It is also the first time in 15 years for the final state budget account to record a primary surplus, with Egypt registering a profit of 4.4 billion Egyptian pounds in 2017-18 fiscal year (nearly 250 million U.S. dollars), official Ahram Online news website quoted the minister as saying.

Proceeds from taxation recorded 566 billion pounds at the end of 2017-18 fiscal year, 28.2 percent higher than the targeted figure in the budget.

Egypt has been facing difficult economic conditions due to political instability and relevant security challenges over the past few years, which led the foreign debt to hike from about 45 billion dollars in 2013 to 82.9 billion dollars by the end of 2017, according to the Central Bank of Egypt.

To boost economy, the Egyptian government started in late 2016 a strict three-year economic reform program based on austerity measures, fuel and energy subsidy cuts and tax hikes.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011105091373505611
国产无码在线观看免费在线,37pao国产成视频,日韩一区二区视频在线,国产国产人免费人成免费视频麻豆
香蕉伊大在线中字色中文 | 五月天天堂AV在线播放 | 亚洲综合色区另类AⅤ | 伊人久久大香线蕉综合网站 | 亚洲综合视频在线观看h | 亚洲v欧美v日韩ⅴ国产v |