The budget deficit witnessed an increase of EGP 53 billion compared to last year. A minor increase in relation to the current situation and the status of global economy at the wake of COVID-19 Pandemic.
The deficit measured from July to January reached ~ EGP 268 billion, while last year same time it stood at ~EGP 214 billion; this is about 4.4% of the GDP compared to 4.1% last year, according to the Ministry of Finance.
EGP 33 billion of this deficit was due to an early payment to the pension fund.
When it comes to revenues versus expenditures, revenues rose to EGP 473 billion in this 7 months period compared to EGP 459 billion same time last year. Expenditure also increased to EGP 737 billion compared to EGP 672 billion last year in the same 7 months period.