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  • 25-06-19

    Egypt's new state budget hits USD94.3b

    (MENAFN) Egypt's state budget for the fiscal year 2019-20 stood at USD94.3 billion, marking the biggest state budget to ever be seen within the country.

    MENA news agency reported that the state budget is likely, for the first time in fifteen years, to achieve 35 billion Egyptian pounds in the initial surplus.

    Under the newly approved state budget, the cash deficit is expected to reach 440 billion pounds and the total deficit to hit 445 billion pounds.

    Meanwhile, the draft budget is looking to seal 6 percent in the growth rate from the 5.6 percent registered this year.

    It is also targeting a drop in the unemployment rate to stand at 9.1 percent.

    MENAFN2506201900450000ID1098681764

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