{"id":563837,"date":"2021-07-26T04:00:35","date_gmt":"2021-07-26T04:00:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/egypt-beats-budget-deficit-primary-surplus-targets-in-2020-21\/"},"modified":"2021-07-26T04:00:35","modified_gmt":"2021-07-26T04:00:35","slug":"egypt-beats-budget-deficit-primary-surplus-targets-in-2020-21","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/egypt-beats-budget-deficit-primary-surplus-targets-in-2020-21\/","title":{"rendered":"Egypt beats budget deficit, primary surplus targets in 2020-21"},"content":{"rendered":"

<\/a> Egypt\u2019s primary surplus, budget deficit beat expectations in 2020-2021:<\/strong> Egypt recorded a primary surplus of 1.4% of GDP, or around EGP 93.1 bn, during FY2020-2021,<\/strong> Ittihadiya said in a statement<\/a> yesterday.<\/p>\n

This is comfortably higher than the<\/strong> 0.9% targeted by the government<\/a><\/strong> and better than the IMF\u2019s expectations for a 1% primary surplus<\/a>. Egypt achieved a 2% primary surplus before the pandemic hit. In FY2021-2022, the Finance Ministry expects the country\u2019s primary surplus to increase to 1.5%<\/a>, before falling to 1.3% the year after.<\/p>\n

The budget deficit also narrowed more than expected<\/strong>: The budget deficit reached 7.4% in FY2020-2021, from 8% a year prior. This exceeded the ministry\u2019s initial target of 7.8%<\/a>, and was mostly in line with the IMF\u2019s 7.3% forecast. Moving forward, the budget deficit is expected to narrow to 6.7% of GDP this fiscal year, before dropping to 6.2% in FY 2022-2023<\/p>\n

Revenues outpace spending<\/strong>: Revenues increased by 12% y-o-y (EGP 119 bn), outpacing spending which rose 9% y-o-y, the statement said, without disclosing the figures.<\/p>\n

And debt-to-GDP declined<\/strong>: The country's public debt dropped to 90.6% of GDP in FY2020-2021 thanks to the Finance Ministry\u2019s shift to longer tenor debt<\/a>, which has seen it lengthen the average maturity from 1.3 years before June 2017 to 3.45 years as of June 2021, the statement said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s primary surplus, budget deficit beat expectations in 2020-2021: Egypt recorded a primary surplus of 1.4% of GDP, or around EGP 93.1 bn, during FY2020-2021, Ittihadiya said in a statement yesterday. This is comfortably higher than the 0.9% targeted by the government and better than the IMF\u2019s expectations for a 1% primary surplus. Egypt achieved […]<\/p>\n","protected":false},"author":1,"featured_media":563838,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[279,104,72,276],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-budget-watch","tag-economy","tag-enterpriseam","tag-finance-ministry","wpautop","entry"],"acf":{"mongo_id":"b9b256c9-96d6-4a37-8097-31671ba3016b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/7\/247.jpg","photo_position":"above","related_issue":[563833],"teaser":"","voice_url":""},"yoast_head":"\nEgypt beats budget deficit, primary surplus targets in 2020-21 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/egypt-beats-budget-deficit-primary-surplus-targets-in-2020-21\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt beats budget deficit, primary surplus targets in 2020-21\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s primary surplus, budget deficit beat expectations in 2020-2021: Egypt recorded a primary surplus of 1.4% of GDP, or around EGP 93.1 bn, during FY2020-2021, Ittihadiya said in a statement yesterday. This is comfortably higher than the 0.9% targeted by the government and better than the IMF\u2019s expectations for a 1% primary surplus. 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This is comfortably higher than the 0.9% targeted by the government and better than the IMF\u2019s expectations for a 1% primary surplus. 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The surplus came on the back of an increase in tax revenues, which rose 16% y-o-y, the minister said.The surplus is down on an annual basis, but it\u2019s still\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/248.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547736,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/budget-deficit-narrows-to-6-1-in-fy2021-2022\/","url_meta":{"origin":563837,"position":1},"title":"Budget deficit narrows to 6.1% in FY2021-2022","author":"enterpriseam admin","date":"5 July 2022","format":false,"excerpt":"Gov\u2019t beats FY2021-2022 budget deficit target -preliminary figures: The budget deficit narrowed to 6.1% of GDP in FY2021-2022 from 7.4% the year before, according to preliminary figures released by Ittihadiya yesterday. This is significantly smaller than the 6.7% target in the state budget, and comes despite surging food and energy\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/114.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571283,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/06\/budget-deficit-could-widen-to-7-8-due-to-covid-19-maait\/","url_meta":{"origin":563837,"position":2},"title":"Budget deficit could widen to 7.8% due to covid-19 -Maait","author":"enterpriseam admin","date":"6 May 2020","format":false,"excerpt":"Budget deficit could widen to 7.8% due to covid-19 -Maait: Egypt\u2019s budget deficit could widen to 7.8% of GDP in FY2020-2021 if the covid-19 pandemic continues until the end of the year, Finance Minister Mohamed Maait warned yesterday. The government currently expects to narrow the deficit to 6.3% in FY2020-2021.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/48.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597662,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/13\/budget-deficit-unexpectedly-narrows-in-fy-2022-2023-finmin\/","url_meta":{"origin":563837,"position":3},"title":"Budget deficit unexpectedly narrows in FY 2022-2023 -FinMin","author":"enterpriseam admin","date":"13 August 2023","format":false,"excerpt":"The budget deficit narrowed 0.1 percentage points y-o-y to 6.0%","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/549.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542938,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/budget-deficit-widens-to-3-9-in-1h2021-22\/","url_meta":{"origin":563837,"position":4},"title":"Budget deficit widens to 3.9% in 1H2021-22","author":"enterpriseam admin","date":"25 January 2022","format":false,"excerpt":"Egypt\u2019s budget deficit stood at 3.9% in 1H2021-2022, widening from 3.6% in the first half of last fiscal year, Finance Minister Mohamed Maait yesterday told Bloomberg Asharq. The figures continue a trend seen in the first quarter of the fiscal year, when the deficit widened y-o-y from 2.7% to 3.1%\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/322.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602001,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/17\/egypt-records-budget-surplus-0-5-of-gdp-in-7m2018-19\/","url_meta":{"origin":563837,"position":5},"title":"Egypt records budget surplus 0.5% of GDP in 7M2018-19","author":"enterpriseam admin","date":"17 March 2019","format":false,"excerpt":"Primary budget surplus of 0.5% of GDP in 7M2018-19: Egypt recorded a primary budget surplus of EGP 24 bn (or 0.5% of GDP) during 7M2018-19, compared to a deficit of EGP 13 bn a year earlier, the Finance Ministry said in its February monthly bulletin. The budget deficit during the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=563837"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563837\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/563833"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/563838"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=563837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=563837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=563837"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=563837"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=563837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}