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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
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
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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