General Budget Achieves Surplus of 5 Billion Pounds During First Quarter of Fiscal Year

The state’s general budget achieved total revenues of 161.6 billion pounds during the period from July to August of the fiscal year 2022/2023, an increase of 21.7 billion pounds, with a growth rate of 15.5%.

Tax revenues contributed about 82.7% of total revenues, and 17.3% of revenues. tax, according to a report issued by the Ministry of Finance.

The primary surplus of the budget during the period from July to August of the fiscal year 2022/2023 amounted to about 5 billion pounds, or 0.1% of GDP, compared to a deficit of -0.1% during the same period of the previous fiscal year, as a result of an increase in revenues by about 15.5%, and an increase in expenses by 17.8% compared to the same period of the previous year, where the state's general budget was able to meet the increase in allocations to the health and education sector, investments funded by the treasury, wage increases, and meet the allocations for social protection programs.

While the overall financial balance of the state’s general budget achieved about -1.6% as a percentage of GDP during the period from July to August of the fiscal year 2022/2023.