{"id":627845,"date":"2018-06-13T04:25:48","date_gmt":"2018-06-13T04:25:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/13\/egypt-achieves-egp-2-bn-primary-budget-surplus-during-11m17-18\/"},"modified":"2018-06-13T04:25:48","modified_gmt":"2018-06-13T04:25:48","slug":"egypt-achieves-egp-2-bn-primary-budget-surplus-during-11m17-18","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/13\/egypt-achieves-egp-2-bn-primary-budget-surplus-during-11m17-18\/","title":{"rendered":"Egypt achieves EGP 2 bn primary budget surplus during 11M17-18"},"content":{"rendered":"

Egypt delivered a primary budget surplus of EGP 2 bn in 11M17-18<\/strong>, compared to a deficit of EGP 47 bn in the same period the year before, Finance Minister Amr El Garhy said in a statement yesterday<\/a>. The overall deficit also narrowed to 7.8%, down from 9.3% in the same period a year ago and an average of 10.6% over the previous three years, the minister said. Those figures suggest the country is on track to close the fiscal year with 9.8%, comfortably below the 10% threshold El Garhy had previously announced. Cabinet and the House of Representatives had signed off on a EGP 70 bn overdraft<\/a> for the current fiscal year to cover \u201cnecessary expenditures,\u201d including importing fuel at higher prices than had been anticipated. El Garhy had said that the overdraft will not impact<\/a> the targeted budget deficit for the year.<\/p>\n

Public revenues have reportedly exceeded expectations by more than 2% for 10M2017-18<\/strong> and should come in ahead of projections by as much as 3% for the fiscal year, an unnamed government source tells Al Shorouk<\/a>, explaining that the increase would help the government achieve its target budget deficit.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt delivered a primary budget surplus of EGP 2 bn in 11M17-18, compared to a deficit of EGP 47 bn in the same period the year before, Finance Minister Amr El Garhy said in a statement yesterday. The overall deficit also narrowed to 7.8%, down from 9.3% in the same period a year ago and […]<\/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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-627845","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"fbd0001d-146d-4a52-bedf-6a7b157cfed5","order":"0","is_powered_by":true,"section_story_id":"e5ae757b-6355-4c8d-9c53-9c50e4949ba6","story_type":"1","photo_url":"","photo_position":"above","related_issue":[627836],"teaser":"","voice_url":""},"yoast_head":"\nEgypt achieves EGP 2 bn primary budget surplus during 11M17-18 - 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\/06\/13\/egypt-achieves-egp-2-bn-primary-budget-surplus-during-11m17-18\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt achieves EGP 2 bn primary budget surplus during 11M17-18\" \/>\n<meta property=\"og:description\" content=\"Egypt delivered a primary budget surplus of EGP 2 bn in 11M17-18, compared to a deficit of EGP 47 bn in the same period the year before, Finance Minister Amr El Garhy said in a statement yesterday. The overall deficit also narrowed to 7.8%, down from 9.3% in the same period a year ago and […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/13\/egypt-achieves-egp-2-bn-primary-budget-surplus-during-11m17-18\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-13T04:25:48+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\/06\/13\/egypt-achieves-egp-2-bn-primary-budget-surplus-during-11m17-18\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/13\/egypt-achieves-egp-2-bn-primary-budget-surplus-during-11m17-18\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt achieves EGP 2 bn primary budget surplus during 11M17-18\",\"datePublished\":\"2018-06-13T04:25:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/13\/egypt-achieves-egp-2-bn-primary-budget-surplus-during-11m17-18\/\"},\"wordCount\":193,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/13\/egypt-achieves-egp-2-bn-primary-budget-surplus-during-11m17-18\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/13\/egypt-achieves-egp-2-bn-primary-budget-surplus-during-11m17-18\/\",\"name\":\"Egypt achieves EGP 2 bn primary budget surplus during 11M17-18 - 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The figure translates to around 0.2% of GDP, Finance Minister Mohamed Maait told\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":627802,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/12\/egp-70-bn-overdraft-will-not-impact-budget-deficit-el-garhy\/","url_meta":{"origin":627845,"position":1},"title":"EGP 70 bn overdraft will not impact budget deficit - El Garhy","author":"enterpriseam admin","date":"12 June 2018","format":false,"excerpt":"BUDGET WATCH- Overdraft won\u2019t blow budget deficit target, El Garhy says. Some EGP 70 bn in overdraft spending for the soon-to-close FY2017-18 budget will not impact Egypt\u2019s targeted budget deficit for the year, said Finance Minister Amr El Garhy. The budget deficit is still on track to fall to 9.8%\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":634294,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/budget-deficit-continues-to-narrow-in-1h2017-18\/","url_meta":{"origin":627845,"position":2},"title":"Budget deficit continues to narrow in 1H2017-18","author":"enterpriseam admin","date":"11 January 2018","format":false,"excerpt":"Budget deficit continued to narrow in 1H2017-18: Egypt\u2019s budget deficit declined to 4.4% of GDP in 1H2017-18, down from 5% during the same period last year, Finance Minister Amr El Garhy said at a meeting with President Abdel Fattah El Sisi. The primary budget deficit also fell to 0.3% of\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":650356,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/22\/el-garhy-discusses-budget-in-an-al-ahram-interview\/","url_meta":{"origin":627845,"position":3},"title":"El Garhy discusses budget in an Al Ahram interview","author":"enterpriseam admin","date":"22 March 2017","format":false,"excerpt":"As for the FY2017-18 budget, Egypt\u2019s total subsidy expenditures are estimated to come in at EGP 385 bn, up from EGP 285 bn in the current fiscal year, El Garhy told Al Ahram in an interview published on Tuesday. Social welfare programs, including Takaful and Karama, will cost the state\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":647354,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/09\/budget-discussions-kick-off-at-the-house\/","url_meta":{"origin":627845,"position":4},"title":"Budget discussions kick-off at the House","author":"enterpriseam admin","date":"9 May 2017","format":false,"excerpt":"Finance and planning ministers talk FY2017-18 budget with the House: House of Speaker Ali Abdel Aal referred the Ismail government\u2019s proposed FY2017-18 budget to the House Budget Committee after Finance Minister Amr El Garhy and Planning Minister Hala El Said briefed MPs on the spending bill yesterday, Ahram Gate reports.\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":630388,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/19\/how-the-economic-reforms-will-help-rein-in-debt\/","url_meta":{"origin":627845,"position":5},"title":"How the economic reforms will help rein in debt","author":"enterpriseam admin","date":"19 April 2018","format":false,"excerpt":"Egypt\u2019s fiscal reforms in general, and ongoing subsidy cuts in particular, will help keep rising debt from getting out of control, Finance Minister Amr El Garhy tells the Financial Times\u2019 Heba Saleh in an interview on Wednesday. \u201cThe reduction in the overall deficit will be accompanied by a primary surplus\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\/2018\/4\/1822.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/627845","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=627845"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/627845\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/627836"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=627845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=627845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=627845"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=627845"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=627845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}