The average budget deficit in Egypt for the past 42 years was 7.9%, achieving its best figures soon after the Gulf War
Due to the exchange rate’s movements during the previous FY, the public debt saw a 4% climb in relation to the GDP to reach 85.3%, according to Maait
The minister also added that they have allotted EGP 6.025 billion in the budget to go towards digital transformation and cybersecurity projects
This is less than the state budget’s target of 6.7% despite the growing costs of rising food and energy prices during the 2nd half of the year
Maait stressed that the new budget is the largest in Egypt’s history by exceeding the 3 trillion mark
