Egypt’s budget deficit hits 11.5pct for FY 2014/15
16 Mar 2017
(MENAFN) The Parliament confirmed the final accounts of Egypt’s budget for the fiscal years 2014/15, which resulted in a total deficit worth EGP279.4bn.
Accordingly, final accounts for FY 2014/15 revealed that the social dimension programs attracted almost EGP230.6bn, involving spending on education and health.
In addition, almost EGP236.5bn of regional and global loans was paid amid the cited years, which marks a jump of about EGP107.5bn from the last fiscal year.
Moreover, petroleum subsidies accounted for EGP73.9bn, electricity subsidies for EGP23.6bn, public transportation for EGP1.6bn and health insurance for EGP839.5mn.