The Economic reforms introduced by the government start to bear fruit as the budget deficit decreased to 4, 2% of Gross Domestic product (GDP) in the first half of 2017/2018.
The Egyptian ministry of Planning announced that budget deficit is moving back. by mid 2017, it has felt to 4, 2 % of GDP, dropping by 5% compared to the previous year’s same period. During the first half of 2015 fiscal year, it was at 6, 4 %. This rates represents a 2, 2 % reduction in 2 years.
Moreover, the primary deficit also fell to 0, 3 % of GDP in the 2017/2018 same period, down from 1,1 % a year earlier. In the first half of 2015/2016, it stood at 2, 2 % of GDP. In January last, The ministry of Finance show its willingness to turn the ship of the budget deficit by tracking to achieve a 0, 2% surplus by the end of 2018/2019 fiscal year.
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