Egypt's budget deficit rose to 3.7% of the country’s gross domestic product (GDP) during the first 5 months of the 2021/2022 fiscal year, up from 3.7% in FY 2020/2021, explained a recent report by the Ministry of Finance.

In its December report, the ministry revealed that the budget deficit amounted to EGP 266.94 billion during the July-November 2021 period, compared to 204.6 billion in the previous FY’s first 5 months.

Tax revenues contributed to 79.2% of Egypt’s public revenues in the July – December 2021 period, which recorded EGP 390.6 billion (up by 6.5%), with non-tax revenues filling the final 20.8%. Revenues in FY 2020/2021’s first 5 months were EGP 366.62 billion.

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Egypt's expenditure increased to EGP 658.91 billion during the first 5 months of the fiscal year from EGP 567.49 billion in the same period last year.

Public investments took around 10.5% of state expenditures valued at EGP 69 billion, while 15.5% was distributed to social benefits, support and grants at a value of EGP 102 billion.