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Egypt’s budget deficit dropped to 8.2 percent of GDP in the second quarter of the financial year from 9.8 percent the previous year, the finance minister said on Monday.
Egypt achieved a primary budget surplus of 104 billion Egyptian pounds ($6.3 billion) during the 2018/2019 financial year, targeting 124 billion pounds for the current year, Finance Minister Mohamed Maait said at a business conference in Cairo.
Maait said earlier last week that the country is targeting a budget deficit of 7.2 percent for the current financial year, and a deficit of 6.2 percent in the 2020/21 financial year.
