Egypt’s 9M budget deficit for year to June drops to 5.3 pct of GDP - finance minister

CAIRO: Egypt’s budget deficit dipped to 5.3 per cent of GDP in the first nine months of the year ending in June, the finance minister said, against 6.2 per cent in the same period a year prior.

Egypt’s primary surplus of 35.5 billion Egyptian pounds (Dh7.60 billion; $2.07 billion) in the first nine months of the 2018/2019 fiscal year was at 0.7 per cent of GDP, Finance Minister Mohammad Maait said. Egypt had a primary deficit of 7 billion pounds, 0.2 per cent of GDP, in the same period a year prior, he said.