Egyptian Finance Minister Mohamed Maeet asserted that Egypt was able to maintain the stability of its economic indexes in the previous fiscal year of 2021/2022 despite the exceptional circumstances in the world and the global economic turmoil and financial constraints caused by the Russian-Ukrainian conflict and the lingering negative impacts of the Covid-19 pandemic.
In a statement released by the Ministry of Finance on Thursday after referring the results of the final account of the budget of the fiscal year 2021/2022 to the parliament, Maeet said that the ministry decreased the total deficit of the budget to 6.1 per cent of GDP, achieved a 1.3 per cent initial surplus and reduced the debt to 87.2 per cent from 103 per cent in June 2016.
He said that the ministry is keen on boosting the efficiency of public expenses in the sectors of health, education and social development within the framework of implementing a national strategy for human capital development.
