PUBLIC FINANCES

Somehow we’ve generated a primary surplus so far this fiscal year

The Madbouly government delivered a primary surplus of EGP 25 bn during the first nine months of FY2020-2021, despite the economic shock of the coronavirus heaping pressure on public finances, Finance Minister Mohamed Maait said yesterday. This came as revenue growth outpaced a rise in spending, with income rising almost 15% during the nine-month period…