Finance Minister: Committed to achieving goals of current fiscal year ...Egypt

The Finance Ministry is committed to achieving all goals set for the current fiscal year, which ends in June, despite the severe global pressure on the Egyptian economy, Mohamed Maait said. The finance minister, in statements on Tuesday, said the plan is to achieve a primary surplus of 1.5 percent of the Gross Domestic Product (GDP) during the current fiscal year. If everything works according to plan, this surplus should increase to 2.5 percent of the GDP in the next fiscal year, Maait added. This, he noted, would contribute to reducing local debt to less than 80 percent by 2026-2027. The Finance Ministry was able to maintain a primary surplus of 1.3 percent for five consecutive years that

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