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Egypt records EGP 100.1B primary surplus in FY 2021/2022

Egypt records EGP 100.1B primary surplus in FY 2021/2022

Arab Finance: Egypt has recorded a primary surplus of EGP 100.1 billion in fiscal year (FY) 2021/2022, representing 1.3% of the gross domestic product (GDP), the Ministry of Finance revealed on September 20th.

Moreover, the overall deficit dropped to 6.1% of the GDP as per the FY 2021/2022 indicators, compared to a deficit of 6.8% of the GDP in the FY before, the ministry added.

The state has been able to achieve a primary surplus despite of the challenges it faces amid the global economic crises, the ministry noted.

As per FY 2021/2022 budget, all the required allocations for different sectors, particularly healthcare and education, along with Decent Life initiative, have been fulfilled, as well as the settlement of monthly dues to insurance and pensions funds, the ministry said.

The government has dedicated a sum of EGP 124 billion for the healthcare sector and allocated an amount of EGP 80 billion for Decent Life initiative, indicators showed.

Additionally, the country has provided about EGP 180 billion for settling dues of insurance and pensions funds, according to the ministry’s indicators.

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