CAIRO – The State’s general budget in Egypt achieved a primary surplus of about LE98.5 billion during fiscal year 2021/2022, representing 1.3 percent of the gross domestic product (GDP), compared to LE93.4 billion a year earlier, said Finance Minister Mohamed Maeet.
The minister’s remarks were made during a Cabinet meeting held Thursday under Prime Minister Moustafa Madbouli.
The minister, meanwhile, explained that the needs of all sectors were provided, especially the health and education sectors, as well as all allocations for the “Decent Life” presidential initiative.
The overall budget deficit reached 6.1% of GDP in 2021/2022 fiscal year, compared with 6.8% of GDP during the previous fiscal year, added the minister during the meeting.
Despite all the successive global economic challenges, total expenditures in the State’s general budget increased by 11.8% during FY 2021-22, he further said.
The health sector’s allocations reached LE124 billion, he said, adding that his ministry has also allocated LE192.4 billion to the education sector.
The minister also noted that the tax revenues increased by about 17.3%, a matter which reflects efforts exerted to improve the tax system.
The customs tax revenues also increased by about 8.3%, he went on to say.
