Egypt shrinks budget deficit to 6%, improves debt-to-GDP to 95.8% in FY 2023

Egypt’s budget deficit narrowed to 6% of gross domestic product in the fiscal year (FY) that ended in June 2023, Finance Minister Mohamed Maait said. The debt-to-GDP ratio also improved, falling to 95.8% in 2023 from 103% in June 2016. He indicated that a primary surplus of 1.6% of GDP in FY (...)