01 Jul 2021

The Minister of Finance said that Egypt’s overall budget deficit has decreased to 7.8% in FY20/21, down from 12% in FY13/14. He expects it to decrease further to 6.7% in FY21/22. He also said that the budget’s primary surplus was 1.1% in FY20/21, lower than the 1.8% achieved in FY19/20, but much higher than the primary deficit of 3.5% witnessed in FY14/15.

He added that the unemployment rate decreased to 7.2% in December 2020 from 13.3% in FY14/15. Also, inflation decreased to 4.5% in March 2021, down from 22% in 2017. (Source: al-Ahram (English) (Arabic), Mubasher, al-Youm al-Sabe ,Akhbar al-Youm, al-Masry al-Youm, al-Shurouk, Sada el-Balad)