Egypt Achieves   Initial Surplus of $5.2 billion, Inflation Slows Down 

The Egyptian Ministry of Finance said in a statement that Egypt achieved a primary surplus of about 98.5 billion pounds ($5.22 billion) for the fiscal year 2021-2022, which ended on June 30.

The statement added that the total budget deficit in Egypt, according to the initial activities for the year 2021-2022, amounted to 6.1% of the gross domestic product.

Meanwhile, urban inflation in Egypt slowed last June, after rising for six months, leaving the country facing one of the biggest cost hikes in years.

The Central Agency for Public Mobilization and Statistics (CAPMS) announced that consumer prices rose by 13.2 percent from last year, compared to 13.5 percent in the previous month.

Every month, inflation came to minus 0.1%, falling below zero for the first time since last December.