January 20, 2020 / 10:16 AM / a month ago

Egypt primary surplus at 30 bln EGP in H1 FY 19/20

CAIRO, Jan 20 (Reuters) - Egypt registered a primary budget surplus of 0.5% of GDP, amounting to 30 billion Egyptian pounds ($1.91 billion), during the first half of the 2019/2020 fiscal year, Finance Minister Mohamed Maait said on Monday.

The overall budget deficit in the first half of 2019/2020 increased to 3.8% from 3.6% from the same period last year and the GDP will increase to 5.8% - 5.9% by end of fiscal year 2019/2020 instead of previously targeted 5.6%, Maait added in a news conference. ($1 = 15.7300 Egyptian pounds) (Reporting by Ahmed Ismail, writing by Amina Ismail)

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