Egypt climbs ranking of 3 most imp int’l economic indicators, thanks to economic reforms: Finance Min.

Egypt climbs ranking of 3 most imp int’l economic indicators, thanks to economic reforms: Finance Min.

Egypt is first in emerging countries for debt reduction, second in budget surplus. Comments Off on Egypt climbs ranking of 3 most imp int'l economic indicators, thanks to economic reforms: Finance Min.. Egypt also achieved the highest growth rate in the Arab region at 5.6%, during fiscal year (FY) 2018/2019.. The Minister attributed the significant improvement in the performance of the national economy to qualitative steps in the performance of the Egyptian public budget, which achieved revenues during the first half of the current fiscal year, amounting to EGP 390.1bn, a growth rate of 5% over the previous fiscal year.. Maait indicated that tax revenues reached EGP 304bn in the first half of the current fiscal year, and the non-tax revenues increased to record EGP 85.6bn, pointing out that Egypt succeeded in achieving an initial budget surplus during the first half of the current fiscal year of EGP 30.5bn against an initial deficit of EGP 53.8bn in the same period in 2015/2016.. Egypt also succeeded in reducing the total deficit rate for the public budget from 6.2% in the first half of FY 2015/2016 to 3.8 % of GDP during the first half of the current fiscal year..