{"id":634294,"date":"2018-01-11T04:01:00","date_gmt":"2018-01-11T04:01:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/budget-deficit-continues-to-narrow-in-1h2017-18\/"},"modified":"2018-01-11T04:01:00","modified_gmt":"2018-01-11T04:01:00","slug":"budget-deficit-continues-to-narrow-in-1h2017-18","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/budget-deficit-continues-to-narrow-in-1h2017-18\/","title":{"rendered":"Budget deficit continues to narrow in 1H2017-18"},"content":{"rendered":"

<\/a> Budget deficit continued to narrow in 1H2017-18:<\/strong> 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 GDP for the first six months of FY2017-18, down from 1.1% last year and the lowest primary budget deficit recorded in the past 10 years<\/strong>, El Garhy added, according to a statement from Ittihadiya<\/a>. This largely came on the back of 38% y-o-y growth in state revenues in 1H2017-18 from a sharp 61% uptick in tax revenues. On the flipside, expenditure on food subsidies had risen as well to EGP 23.3 bn during the first half, a 65% y-o-y jump over 1H2016-17. Spending on the Takaful and Karama social welfare program had risen 141% y-o-y in 1H2017-18 to EGP 9 bn, according to the statement.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 GDP for the first six […]<\/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-634294","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"8530b54d-a2a5-4a23-89f2-0eb24cf669d7","order":"0","is_powered_by":true,"section_story_id":"97626070-f5cd-412b-a5b9-3c057c08aab8","story_type":"1","photo_url":"","photo_position":"above","related_issue":[634286],"teaser":"","voice_url":""},"yoast_head":"\nBudget deficit continues to narrow in 1H2017-18 - 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\/01\/11\/budget-deficit-continues-to-narrow-in-1h2017-18\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget deficit continues to narrow in 1H2017-18\" \/>\n<meta property=\"og:description\" content=\"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 GDP for the first six […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/budget-deficit-continues-to-narrow-in-1h2017-18\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-11T04:01:00+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\/01\/11\/budget-deficit-continues-to-narrow-in-1h2017-18\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/budget-deficit-continues-to-narrow-in-1h2017-18\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Budget deficit continues to narrow in 1H2017-18\",\"datePublished\":\"2018-01-11T04:01:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/budget-deficit-continues-to-narrow-in-1h2017-18\/\"},\"wordCount\":159,\"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\/01\/11\/budget-deficit-continues-to-narrow-in-1h2017-18\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/budget-deficit-continues-to-narrow-in-1h2017-18\/\",\"name\":\"Budget deficit continues to narrow in 1H2017-18 - 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At play: The ongoing rebound in tourism, remittances and an increase in merchandise exports. Egypt\u2019s balance of payments recorded\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":632346,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/08\/fuel-subsidies-expenditure-up-34-y-o-y\/","url_meta":{"origin":634294,"position":1},"title":"Fuel subsidies expenditure up 34% y-o-y","author":"enterpriseam admin","date":"8 February 2018","format":false,"excerpt":"Fuel subsidy costs are up 34% y-o-y in 1H2017-18, Oil Minister Tarek El Molla told Reuters. The cost has gone up to EGP 51 bn from EGP 38 bn, but El Molla notes that the spent amount remains EGP 4 bn below budgeted. In total, the government expects to spend\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":629816,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/02\/correction-trade-deficit-figures-for-1h2017-18\/","url_meta":{"origin":634294,"position":2},"title":"CORRECTION- Trade deficit figures for 1H2017-18","author":"enterpriseam admin","date":"2 April 2018","format":false,"excerpt":"CORRECTION- We made a couple of errors on our report on Egypt\u2019s trade deficit figures for 1H2017-18: Merchandise exports increased to EGP 12.1 bn in 1H2017-18 and not EGP 12.9 bn; and net foreign holdings in Egypt\u2019s T-bills grew to USD 8.1 bn from USD 686.7 mn not bn. 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":[]},{"id":627845,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/13\/egypt-achieves-egp-2-bn-primary-budget-surplus-during-11m17-18\/","url_meta":{"origin":634294,"position":3},"title":"Egypt achieves EGP 2 bn primary budget surplus during 11M17-18","author":"enterpriseam admin","date":"13 June 2018","format":false,"excerpt":"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. 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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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/634294","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=634294"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/634294\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/634286"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=634294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=634294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=634294"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=634294"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=634294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}