{"id":621897,"date":"2018-11-21T04:17:56","date_gmt":"2018-11-21T04:17:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/21\/egypts-budget-deficit-narrowed-to-1-9-in-1q18-19\/"},"modified":"2018-11-21T04:17:56","modified_gmt":"2018-11-21T04:17:56","slug":"egypts-budget-deficit-narrowed-to-1-9-in-1q18-19","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/21\/egypts-budget-deficit-narrowed-to-1-9-in-1q18-19\/","title":{"rendered":"Egypt\u2019s budget deficit narrowed to 1.9% in 1Q18-19"},"content":{"rendered":"

<\/a> Egypt\u2019s budget deficit narrowed slightly to 1.9% during the first quarter of FY2018-19<\/strong>, down from 2% during the same period in the last fiscal year, Finance Minister Mohamed Maait said, according to Reuters<\/a>. Maait said the narrowing of the deficit indicates that Egypt is on track to meet its budget deficit target of 8.4% for the current fiscal year, according to the newswire<\/a>. A government source had told us in September that the Finance Ministry was likely to amend the target to 8.6% on the back of rising US interest rates and a spike in oil prices this year. Initial budget projections had assumed an oil price of USD 67 \/ bbl. According to Bloomberg, every USD 1 increased above the budgeted oil price adds EGP 4 bn (USD 222 mn) to the state\u2019s annual outlay. The recent plunge in the price of oil from a high well north of USD 80 \/ bbl has given the state considerable breathing room on that front.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s budget deficit narrowed slightly to 1.9% during the first quarter of FY2018-19, down from 2% during the same period in the last fiscal year, Finance Minister Mohamed Maait said, according to Reuters. Maait said the narrowing of the deficit indicates that Egypt is on track to meet its budget deficit target of 8.4% for […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[864,72,276,277,2380,278],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-621897","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-budget-deficit","tag-enterpriseam","tag-finance-ministry","tag-mohamed-maait","tag-speed-round","tag-state-budget","wpautop","entry"],"acf":{"mongo_id":"51259176-32b0-47dc-81c5-7cdad55dad25","order":"0","is_powered_by":true,"section_story_id":"d272a425-161d-4a63-905a-543a67aaee24","story_type":"1","photo_url":"","photo_position":"above","related_issue":[621886],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s budget deficit narrowed to 1.9% in 1Q18-19 - 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\/2018\/11\/21\/egypts-budget-deficit-narrowed-to-1-9-in-1q18-19\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s budget deficit narrowed to 1.9% in 1Q18-19\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s budget deficit narrowed slightly to 1.9% during the first quarter of FY2018-19, down from 2% during the same period in the last fiscal year, Finance Minister Mohamed Maait said, according to Reuters. Maait said the narrowing of the deficit indicates that Egypt is on track to meet its budget deficit target of 8.4% for […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/21\/egypts-budget-deficit-narrowed-to-1-9-in-1q18-19\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-21T04:17:56+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/21\/egypts-budget-deficit-narrowed-to-1-9-in-1q18-19\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/21\/egypts-budget-deficit-narrowed-to-1-9-in-1q18-19\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s budget deficit narrowed to 1.9% in 1Q18-19\",\"datePublished\":\"2018-11-21T04:17:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/21\/egypts-budget-deficit-narrowed-to-1-9-in-1q18-19\/\"},\"wordCount\":165,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"budget deficit\",\"EnterpriseAM\",\"Finance Ministry\",\"Mohamed Maait\",\"SPEED ROUND\",\"state budget\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/21\/egypts-budget-deficit-narrowed-to-1-9-in-1q18-19\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/21\/egypts-budget-deficit-narrowed-to-1-9-in-1q18-19\/\",\"name\":\"Egypt\u2019s budget deficit narrowed to 1.9% in 1Q18-19 - 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The overall deficit fell short of ministry forecasts of 7.2% of GDP at the end of the fiscal year, but is still an improvement\u2026","rel":"","context":"In "BUDGET WATCH"","block_context":{"text":"BUDGET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/budget-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621999,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/25\/egypt-is-on-track-to-record-a-2-primary-budget-surplus-in-fy2018-19-says-maait\/","url_meta":{"origin":621897,"position":1},"title":"Egypt is on track to record a 2% primary budget surplus in FY2018-19, says Maait","author":"enterpriseam admin","date":"25 November 2018","format":false,"excerpt":"Egypt is on track to record a 2% primary budget surplus in FY2018-19 as state revenues rose more than 35% y-o-y during the first quarter of the fiscal year, outpacing nearly 29% growth in state expenditures in the same period, Finance Minister Mohamed Maait said in a statement (pdf). Tax\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":[]},{"id":595371,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/24\/govt-looking-to-reduce-egypts-budget-deficit-to-5-within-two-years-maait\/","url_meta":{"origin":621897,"position":2},"title":"Gov\u2019t looking to reduce Egypt\u2019s budget deficit to 5% within two years -Maait","author":"enterpriseam admin","date":"24 September 2019","format":false,"excerpt":"The government is looking to reduce Egypt\u2019s budget deficit to 5% within two years, which would bring it to a level that international institutions deem \u201csafe,\u201d Finance Minister Mohamed Maait said yesterday, according to Amwal Al Ghad. Speaking at the Future of Investment in Egypt conference, Maait said that Egypt\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":[]},{"id":570413,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/31\/government-spending-on-health-education-wages-and-welfare-is-set-to-increase-in-fy2020-2021\/","url_meta":{"origin":621897,"position":3},"title":"Government spending on health, education, wages and welfare is set to increase in FY2020-2021","author":"enterpriseam admin","date":"31 March 2020","format":false,"excerpt":"Government spending on health, education, wages and welfare is set to increase in the coming fiscal year, according to highlights of the draft 2020-2021 budget released yesterday by the Finance Ministry. 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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":630652,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/29\/finance-ministry-not-planning-to-amend-budget-to-reflect-increase-in-global-oil-prices\/","url_meta":{"origin":621897,"position":5},"title":"Finance Ministry not planning to amend budget to reflect increase in global oil prices","author":"enterpriseam admin","date":"29 April 2018","format":false,"excerpt":"EXCLUSIVE- And speaking of FX stability: The next state budget assumes an average exchange rate of EGP 17.25 to the greenback, Vice Minister of Finance Mohamed Maait tells us. The proposed budget is currently with the House of Representatives for discussion. Our refresher on the proposed budget is here. Finance\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\/621897","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=621897"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/621897\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/621886"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=621897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=621897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=621897"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=621897"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=621897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}