Thndr Claps » EGY Claps » Economy 🏙 » Lower budget deficit this year? ⚖️
The ClapMohamed Maait, the Minister of Finance, lowered his expectations regarding the budget deficit this year, to 5.6% of the GDP, from 6.1% in the draft budget.The DeetsMaait also said that the budget deficit in the following year is expected to drop to 5% of the GDP.Maait further added that a primary surplus of 1.6% is expected in this year’s budget.A primary surplus is realized when the country’s revenues are higher than its expenditures, with the exception of expenditures on debt interest.Why this MattersMaait said that the budget deficit would have reached 4% of GDP, had it not been for the COVID crisis.
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