Egypt Daily News – Ahmed Kouchouk, Minister of Finance, revealed that the primary surplus in the final account of the state’s general budget for the fiscal year 2023/2024 amounted to 859 billion pounds due to the Ras El-Hekma deal, saying: “The Ras El-Hekma deal made us achieve a very high primary surplus, and made Egypt among the top-achieving countries.” for a primary surplus.
This came during the meeting of the Plan and Budget Committee of the House of Representatives, headed by Dr. Fakhri Al-Fiqi, today, Monday, in the presence of Ahmed Kajouk, Minister of Finance, to review the overall results of the final accounts of the state’s general budget for the fiscal year 2023/2024 and to review the overall combined results of the final accounts of the public economic bodies for the fiscal year. 2023/2024.
The minister said: “With regard to the primary surplus, we expected 2.5% of the GDP, approximately 296 billion pounds, and what was achieved in the final account was about 350 billion pounds, a primary surplus without Ras Al-Hikma at 2.5% of the GDP that we were targeting, and 859.6 billion pounds after Adding the Ras El Hekma deal, at 6.1% of GDP.
He also pointed out that the total deficit in the final account of the budget amounted to 504 billion pounds after the Ras El Hekma deal, saying: The total deficit rate with the Ras El Hekma deal was 3.6% and without Ras El Hekma, it was about 7%.
