{"id":635031,"date":"2018-01-31T04:19:56","date_gmt":"2018-01-31T04:19:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/31\/budget-deficit-to-come-at-9-4-of-gdp-this-fiscal-year-maait\/"},"modified":"2018-01-31T04:19:56","modified_gmt":"2018-01-31T04:19:56","slug":"budget-deficit-to-come-at-9-4-of-gdp-this-fiscal-year-maait","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/31\/budget-deficit-to-come-at-9-4-of-gdp-this-fiscal-year-maait\/","title":{"rendered":"Budget deficit to come at 9.4% of GDP this fiscal year -Maait"},"content":{"rendered":"

<\/a> The budget deficit for the current fiscal year 2017-18 is expected to come in at 9.4% of GDP<\/strong>, Vice Minister of Finance Mohamed Maait told Reuters<\/a>. The updated projection is over the initial rate of 9% and Maait attributes it to the increase in global oil prices and high local interest rates.<\/p>\n

And speaking of the budget, Egypt was ranked 65th out of 115 countries in the bi-annual International Budget Partnership\u2019s Open Budget Survey<\/strong>, which ranks countries for the transparency of their budget. Egypt was ranked 89th out 102 countries in the last Open Budget Survey which came out in 2015. The jump in rankings comes as Egypt improved its overall budget transparency points to 41 out of 100, up from 16 points in 2015. According to the report, since 2015, Egypt has increased the availability of budget information by publishing the budget proposal online in a timely manner, publishing the pre-budget statement and the citizens budget. Egypt has also increased the information provided in the Enacted Budget. The report notes that Egypt fell short in the Citizen Participation category, scoring a mere 11 points. Egypt\u2019s overall score puts it closer to the global average of 43, and is significantly higher than the MENA regional average of 18. \u201cThis is considered the first explicit improvement since 2012,\u201d noted Finance Minister Amr El Garhy.<\/p>\n

You can check out the survey\u2019s country report here (pdf)<\/strong><\/a>, or view the Egypt landing page<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The budget deficit for the current fiscal year 2017-18 is expected to come in at 9.4% of GDP, Vice Minister of Finance Mohamed Maait told Reuters. The updated projection is over the initial rate of 9% and Maait attributes it to the increase in global oil prices and high local interest rates. And speaking of […]<\/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-635031","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"48bf794f-56a3-4c8d-b5d5-36054a900eca","order":"0","is_powered_by":true,"section_story_id":"026c060f-5c62-4278-9bd8-3472fbb0649f","story_type":"1","photo_url":"","photo_position":"above","related_issue":[635018],"teaser":"","voice_url":""},"yoast_head":"\nBudget deficit to come at 9.4% of GDP this fiscal year -Maait - 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\/31\/budget-deficit-to-come-at-9-4-of-gdp-this-fiscal-year-maait\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget deficit to come at 9.4% of GDP this fiscal year -Maait\" \/>\n<meta property=\"og:description\" content=\"The budget deficit for the current fiscal year 2017-18 is expected to come in at 9.4% of GDP, Vice Minister of Finance Mohamed Maait told Reuters. 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The government is also planning to maintain a 2% annual\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":559732,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/02\/maait-presents-medium-term-fiscal-targets\/","url_meta":{"origin":635031,"position":2},"title":"Maait presents medium term fiscal targets","author":"enterpriseam admin","date":"2 February 2021","format":false,"excerpt":"Egypt\u2019s tax revenues are expected to hit EGP 862 bn in FY2020-2021, up from EGP 676.8 bn last fiscal year, Finance Minister Mohamed Maait told the House of Representatives yesterday in a review of the government\u2019s medium-term fiscal plans, Al Mal reports. The initial state budget forecasts \u2014 which have\u2026","rel":"","context":"In "PUBLIC FINANCE"","block_context":{"text":"PUBLIC FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/category\/public-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/45.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569988,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/15\/el-sisi-reviews-draft-fy2020-2021-budget\/","url_meta":{"origin":635031,"position":3},"title":"El Sisi reviews draft FY2020-2021 budget","author":"enterpriseam admin","date":"15 March 2020","format":false,"excerpt":"BUDGET WATCH- President Abdel Fattah El Sisi reviewed the FY2020-2021 draft budget with senior cabinet ministers yesterday, an Ittihadiya statement said. 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