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FINANCIAL NEWS
Egypt’s public revenues log 34.54 percent surge in July-Aug
23 Oct 2015
(MENAFN) Egyptian Public incomes jumped 34.5 percent to a record USD5.7 billion over July and August of fiscal year 2015/2016, based on the recent monthly reports.
The growth is mainly driven by the significant improvement in the national economy, which is reflected in a surge in tax revenue worth USD1 billion, to hit an overall USD4.4 billion.
Additionally, the economic improvement and measures undertaken by the government at the beginning of the last FY led to a noteworthy development in income tax revenue.
Furthermore, Egypt received grants and aids from Arab nations worth USD322 million through the months of July and August of the current FY, as the reports showed.
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