The government is preparing to send the state’s draft budget for the fiscal year 2022/2023 to the House of Representatives (Parliament) today, Thursday.
The new budget comes in accordance with the constitutional deadline before March 31, in order to start discussing it within the specialized committees in the legislative council.
Dr. Mustafa Madbouly, Prime Minister, stressed that in light of the current global conditions and the successive economic changes we are witnessing, coordination has been made with the Minister of Finance, to work on restructuring the state’s general budget for the next fiscal year, in line with the developments of the crisis, and to develop solutions.
The financial objectives of the next public budget are to achieve a high and balanced growth rate of about 5.5%, achieve a primary surplus of 1.5% of Gross Domestic Product (GDP), reduce the budget deficit to 6.1% of GDP, and reduce the debt ratio of the budgetary organs to about 80.5% of the public product the local.
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