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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
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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