Arab Finance: Egypt is expected to start the new fiscal year (FY) 2023/2024 with an ambitious budget plan, targeting EGP 3 trillion in total expenditures and revenues of EGP 2.1 trillion, Ministry of Finance Mohamed Maait stated on May 9^th.

The state is also targeting a primary surplus of 2.5% of gross domestic product (GDP), with the budget deficit expected to reach 6.9% of GDP at the end of the upcoming FY, Maait said.

Furthermore, the country will maintain efforts to gradually trim the debt-to-GDP ratio to less than 80% by June 2027, the minister stated.

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