Dr. Mohamed Maait, Minister of Finance, confirmed that the results of the final account of the budget for the fiscal year 2020/2021, which was approved by the House of Representatives (HoR) yesterday, Tuesday, indicate the success of the Egyptian economy inflexible dealing with internal and external challenges.
The minister affirmed that the national economy was able to absorb global shocks, and contain the repercussions of the Corona pandemic.
The minister added that a primary surplus of 1.46% of the Gross Domestic Product ( GDP) was achieved, which was used to finance part of the interests of the public debt.
He revealed that the surplus contributed to reducing the total deficit to 7.4% of GDP.
He pointed out that the volume of public spending on social dimension programs increased in the 2020/2021 budget, which led to an increase in total expenditures for the last fiscal year by 10% to a record 1.6 trillion pounds.
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