Arab Finance: Egypt achieved a total budget deficit of 4.95% of the gross domestic product (GDP) during the first half (H1) of the current fiscal year (FY) 2023/2024, according to a cabinet statement on January 17^th.

The state also achieved a remarkable primary surplus of EGP 150 billion during the July-December period, up from EGP 25 billion in the same period a FY earlier.

Revenues achieved annual growth of about 41.6%, while total tax revenues climbed by 43.4%.

The Egyptian economic growth slowed down to 2.65% in the first quarter (Q1) of the current FY, compared to 4.4% in the same period a FY earlier.

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