Gov’t looking to reduce Egypt’s budget deficit to 5% within two years -Maait

The government is looking to reduce Egypt’s budget deficit to 5% within two years, which would bring it to a level that international institutions deem “safe,” Finance Minister Mohamed Maait said yesterday, according to Amwal Al Ghad. Speaking at the Future of Investment in Egypt conference, Maait said that Egypt is on track to meet its budget deficit targets of 7.2% in FY2019-2020 and 6% in FY2020-2021. Official documents seen by Enterprise back in June indicated that the ministry was expecting the budget deficit to narrow to 6.2% and 4.8% during the next two fiscal years, respectively.