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Egypt seeks to down budget deficit to LE 349.9 bn in 2020-2021

The Egyptian Ministry of Finance seeks to down total budget deficit to LE 380.5 billion in 2019-2020 and to LE 349.9 billion in 2020-2021.

In a statement on Monday, the ministry said the total revenues are estimated to reach LE 1.062 trillion in 2019-2020 and LE 1.179 trillion in 2020-2021.

The total expenditures are expected to stand at LE 1.426 trillion in 2019-2020 and about LE 1.507 trillion in 2020-2021.

The total tax revenues are expected to reach LE 863 billion in 2019-2020 and LE 960.6 billion in 2020-2021.

The funds allocated for salaries and employees compensation will stand at LE 294.9 billion in 2019-2020 and LE 324.9 billion in 2020-2021.

Interest rates will reach LE 502.7 billion in 2019-2020 and LE 488.8 billion in 2020-2021, according to the statement.

About LE 312 billion will go for subsidies, grants and social benefits in 2019-2020 and about LE 326.6 billion in 2020-2021, the statement said.

Investments are expected to reach about LE 150.8 billion in 2019-2020 and LE 181 billion in 2020-2021.   

 

 

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