FINANCIAL NEWS

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.

MENAFN1603201700450000ID1095317581

MENAFN1603201700450000ID1095317581

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more

This site is registered on wpml.org as a development site.