Egypt targets primary budget surplus of 2.3 pct in FY 2024-25

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Egypt targets primary budget surplus of 2.3 pct in FY 2024-25

STORY: Egypt targets primary budget surplus of 2.3 pct in FY 2024-25 DATELINE: Oct. 26, 2022 LENGTH: 00:00:58 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various exterior shots of the Central Bank of Egypt 2. various of employees counting banknotes 3. various exterior shots of Egypt's Finance Ministry in Cairo STORYLINE: Egypt is targeting a primary budget surplus of 2.3 percent of the GDP for the fiscal year 2024-25, Finance Minister Mohamed Maait said on Tuesday. Egypt's fiscal year begins in July and ends in June. Maait's remarks came on the sidelines of the Egyptian Economic Conference 2022 that kicked off on Sunday in the new administrative capital east of Cairo. The minister added that Egypt's budget deficit narrowed to 6.1 percent in June 2022, down from 12.5 percent in June 2016. He also said that the Egyptian government aims to decrease the budget deficit to 4 percent by 2027. Xinhua News Agency correspondents reporting from Cairo. (XHTV)

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