Egypt Daily News – The Ministry of Finance announced that the total deficit of the state’s general budget declined significantly during the period from July to November of the fiscal year 2024/2025, as the deficit decreased by about 92 billion pounds to reach 560.6 billion pounds, equivalent to 3.2% of the gross domestic product, compared to 652. 6 billion pounds (4.6%) in the same period last year.
The Ministry explained that the budget’s primary surplus witnessed a significant improvement to reach 170 billion pounds, compared to 60.8 billion pounds in the same period of the previous fiscal year, thus achieving the highest primary surplus in the history of the budget, which is three times the primary surplus achieved in the same period last year.
This significant improvement reflects the growth in tax revenues by 38.4%, as a result of the recovery in economic activity, as well as tax system reforms that contributed to increasing tax revenues by expanding the tax base.
The Ministry also indicated that the government has controlled public spending, which has contributed to improving public debt management, as the burden of interest payments has been distributed throughout the fiscal year. In addition, reliance on the Treasury Single Account has been reduced, with emphasis on adhering to legal limits on investment spending.
Public revenues increased by 36%, reaching 828.1 billion pounds, compared to 608.9 billion pounds in the same period of the previous fiscal year. As for public expenditures, they amounted to 1.382 trillion pounds, an increase of 124.1 billion pounds over last year, in light of the government’s continued rearrangement of spending priorities with a focus on social services and human development.
