Egypt’s total budget deficit dropped to 3.28% of GDP in the first five months of the fiscal year (FY) 2024/2025, amounting to EGP 560.6 billion, compared to 4.66% during the same period a FY earlier, according to data from the Ministry of Finance.

The decline was driven by a 36% rise in revenues, which reached EGP 829 billion, supported primarily by a 38.4% increase in tax revenues to EGP 714.3 billion.

Government expenditures also increased, rising 9.8% year-on-year to approximately EGP 1.4 trillion.

Spending on government interest grew by 2.3% to EGP 730.6 billion, while allocations for government support and grants increased by 25.6%, reaching EGP 210.8 billion.

The Egyptian government projects a reduction in the total budget deficit to 7.3% by the end of the current FY in June 2025.

This goal aligns with efforts to boost revenue and manage expenditure growth effectively.

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