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FINANCIAL NEWS
Egypt’s GDP to increase by 3.6 percent in 2016/17
01 Jun 2016
(MENAFN) Egypt estimates a budget deficit of 11 percent of GDP in the financial year of 2016/2017, which is the same as FY 2015/2016.
Furthermore, this debt is larger than the 9.8 percent estimate, which is because of the government’s failure to introduce the value-added tax (VAT) as planned.
Meanwhile, general gov’t debt grew at 90.3 percent of GDP in 2016/2017, while the external debt is low, the debt GDP expected to jump to 90.7 percent in 2017.
The agency predicted that external debt will grow to almost 18 percent of GDP by the end of 2016, as a result of support from the GCC States.
More News
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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