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Egypt's budget deficit stands at LE 258.9 bn in eight months

Egypt's state budget deficit stood at LE 258.9 billion from July 2017 to February 2018, representing 6% of the total Gross Domestic Product (GDP), the Finance Ministry said.

In a report on Sunday, the ministry said the total revenues hit LE 430 billion in the aforementioned eight months against LE 310.5 billion in the same period last year.

Tax revenues rose to LE 354.1 billion in the eight months against 226.3 billion, the report said.

Non-tax revenues plunged to LE 76.5 billion from July 2017 to February 2018 against LE 84.2 billion in the same period last year.

The total expenditures rose to LE 687.9 billion within eight months against LE 532.5 billion in the same period last year, the report said.

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