Egypt’s real GDP to reach 4.1% in 2023: Ministry of Finance

Egypt’s real gross domestic product (GDP) to reach 4.1 percent in the current fiscal year (FY) compared to 6.6 percent last year, The Ministry of Finance reported in its draft budget report.

The report pointed out that the target budget deficit rate by the end of June 2023/2024 is 6.5 percent of the GDP, down from 6.8 percent in the fiscal year 2020/2021.

Egypt maintained a primary surplus of 1.3 percent of GDP in June 2022, financing part of the public debt interest which reduced the total deficit to 6.1 percent last year.