Minister of Finance Dr. Youssef Boutros Ghali has reiterated that the financial indicators regarding the national economy reveal a continuing retraction of the budget deficit in the first quarter of the current fiscal year.

The Minister noted that the deficit reduction is due to an increase in tax earnings over last year.
On the other hand expenditures have soared by 15.8% which is 7.3% of the GDP compared to a 6.8% of GDP last year over the same period; a fact which reflects a rise in the wages sector by 10.8%.  On the other hand, spending has been reduced by 2.9% while tax revenues have soared despite the application of the new income tax law and the reduction of the customs tariff over last year.‏

General spending has reached 204.5 billion pounds this year representing 23.1% of GDP while wages soared  by 10.5%.  Interest revenues have also soared by 12.1% and government investments have reached 19.7 billion pounds.

(source : Ministry of Finance)