·       L.E. 52.3 Bl, in Overall Public Revenues, Public Expenditures Record L.E. 97.7 Bl

·       L.E. 21.4 B in Sales Taxes, L.E. 11.8 B in Profits Taxes and L.E. 4.6 B in Customs Duties

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  ·       L.E. 52.3 Bl, in Overall Public Revenues, Public Expenditures Record L.E. 97.7 Bl ·       L.E. 21.4 B in Sales Taxes, L.E. 11.8 B in Profits Taxes and L.E. 4.6 B in Customs Duties ·       L.E. 28.9 B for Wages, and L.E. 15.7 B for Subsidies and Social Benefits ·       Overall State Budget Deficit Drops to 3.3% of GDP Tax Revenues rose by 12.4% during the period from July to October. A Ministry of Finance report attributed this rise to higher sales tax revenues on goods and services which rose by 17.1%, recording L.E. 21.4 b compared to L.E. 18.3 b last year. Likewise, income and capital profit taxes increased by 2.4% to reach L. E.11.8 b, from L. E. 11.5 b. In addition, customs revenues increased by about 22% to reach L.E. 4.6 b during the period from July to October, compared to L.E 3.8 b during the same period last year. Similarly, property tax revenues increased by 13.2% to reach L. E. 3.3 b, compared to L.E. 2.95 b. This is mainly due to higher taxes on bonds and Treasury bills, which have been classified as property taxes since the beginning of the fiscal year 2009/2010, yielding $ 2.6 b during the period from July to October of the year 2010/2011. On the other hand, the report showed a decline in non-tax revenues, mainly generated from state property revenues which significantly dropped to 33% during the period from July to October of the current fiscal year. The property revenues dropped by 32.7% to record L. E. 6.7 b, compared with L. E. 10 b during the same period of the last fiscal year. At the same time, decreased proceeds from the sale of goods and services rose slightly by 0.3% to L. E. 3.2 b. Also decreased miscellaneous income increased by 34.3% to reach L. E. 907 m in the first four months of the current fiscal year, against L. E. 1.4 b during the same period last year. Grants also dropped by 98%, registering LE 31 million, against $ 1.7 billion during the same period last year. The report revealed that this decline in non-tax revenues slightly affected overall public revenues, which dropped by 1.5% only, registering L. E. 52.3 b, which perpetuated the decline in the State Budget Deficit for the fourth month in a row, only at 0.1%, which drove the overall deficit to L. E. 44.8 b (3.3% of GDP). On the other hand, overall public expenditures during the period from July to October of the current fiscal year 2010/2011 increased by 3.9% to reach L. E.. 97.7 b, compared to approximately L. E. 94 b during the same period last year. The report attributed the public expenditure rise to a 13.1% increase in employees' wages and compensations, which amounted to L. E. 28.9 b, from L. E. 25.6 b. Moreover, public loans interest payments increased by 6.7% to record L. E. 25.3 b. In addition, spending on purchases of goods and services increased by about 6.2% to reach LE 5.7 b, against L. E. 5.4 b during the period from July to October in 2009/2010. (Source: Ministry of Finance)