Egypt's budget deficit declined to 2.12% of gross domestic product (GDP) during the first quarter (Q1) of the fiscal year (FY) 2024/2025, versus 3.26% of GDP in the same period a FY earlier.

Egypt’s total budget deficit dropped to 3.6% of the gross domestic product (GDP) during the fiscal year (FY) 2023/2024, Minister of Finance Ahmed Kouchouk said in a press conference.

Egypt has recorded a primary surplus of EGP 822 billion during the first 11 months of the current fiscal year (FY) 2023/2024, amounting to 5.87% of the gross domestic product (GDP), Minister of Finance Mohamed Maait stated.

Egypt's total budget deficit dropped during the 10 months of fiscal year (FY) 2023/2024, reaching 5.58% of the gross domestic product (GDP) at the end of April.

The Egyptian government expects the country’s gross domestic product (GDP) growth rate to drop to 4.0% in the coming fiscal year (FY) 2024/2025, down from the 4.1% projected for the current FY.

Egypt's overall budget deficit widened 6.7% of gross domestic product (GDP) during the first eight months of the current fiscal year (FY) 2023/2024, compared to 5% in the same period a FY earlier.

Egypt has achieved an overall budget deficit of 5.8% of the gross domestic product (GDP) during the first seven months of the current fiscal year (FY) 2023/2024.

The Egyptian Ministry of Finance has upgraded its budget deficit target for the current fiscal year (FY) 2022/2023 to 6.8% of gross domestic product (GDP), from previous forecast of 6.1%

Egyptian Prime Minister Mostafa Madbouly issued Resolution No. 69 of 2023 regarding the rationalization of spending to combat the current economic crisis, according to the issue No. 52 bis (d) of the Official Gazette published on January 4th. The provisions of this resolution will apply to all entities included in the state's general budget such as administrative apparatus, local administration, public service authorities, and public economic authorities.