Egypt targets 3.5% primary surplus for FY ’24-’25

Egypt’s budget for the fiscal year 2024/2025 is targeting a primary surplus of 3.5 per cent of GDP, or 591.4 billion Egyptian pounds, Ministry of Finance reported on Sunday.

For the new fiscal year, the government has set the debt ceiling of the budgetary bodies at EGP 15.1 trillion, equivalent to 88 per cent of GDP. While, the overall fiscal deficit is projected to be 7.3 per cent of GDP.

Meanwhile, the government aims to raise 2.6 trillion pounds in public revenues. Meanwhile, the public expenditure has been set at 3.9 trillion pounds in order to meet the financial targets for the fiscal year 2024/2025.

Attribution: Ministry of Finance report

Subediting: M. S. Salama