[size=36]Egypt: The government announces reducing its debt to 78.3% of the GDP[/size]
, the Egyptian Minister of Finance, Muhammad Ma’it, said that an initial surplus has been achieved that contributed to the continued decline in the government’s public debt ratio to GDP from 83.8% in June 2019 to 78.3% in November 2019.
The Finance Minister said that it is expected that a debt ratio The general government to the GDP increased to 83% in June 2020.
The annual growth rate of public revenues also increased by 0.5% during July - December 2019, as non-sovereign revenues increased by about 21 billion pounds, and the annual growth rate of government expenditures increased by 8.2% during the first half of Fiscal year 2020/2019, while the same period witnessed an increase in wage growth rates About 12%.
The Minister also indicated that the initial financial performance report monitored an improvement in the net relationship between the public treasury and the petroleum sector, and achieving a surplus in favor of the treasury during the first quarter of the current fiscal year 2019-2020, at a value of 3 billion pounds, for the first time in years. Ended 29 / h