Egypt: Budget deficit widens 25% y/y to EGP 168bn in Jul-Sep
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Egypt: Budget deficit widens 25% y/y to EGP 168bn in Jul-Sep

As percent of full-year GDP, fiscal gap edges up to 2.3% as economy keeps expanding despite COVID

Tax revenues rise 17% y/y due to higher VAT revenues

Interest payments accounted for 91% of tax revenues in Jul-Sep and remain major credit weakness

Spending on subsidies roses 9% y/y; social payments jump 18% y/y because of Treasury contributions to pension funds

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  • Date of publication
    02/11/2021
  • Report views 725