Egypt’s government, as stated in the Preliminary Budget Report for the fiscal year 2024/2025 released by the Ministry of Finance, anticipates a decline in the country’s gross domestic product (GDP) growth rate. It is projected to decrease from 4.1 percent in the current fiscal year to 4.0 percent in the upcoming fiscal year.
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The report also forecasts an average annual headline inflation rate of 18.1 percent for the fiscal year 2024/2025.
In terms of the budget deficit, there is an expectation that it will increase to 7.27 percent in the next fiscal year, compared to 6.96 percent in the budget for fiscal year 2023/2024 and 6.04 percent in the budget for fiscal year 2022/2023.
Additionally, the budget for fiscal year 2024/2025 aims to achieve a primary surplus of 3.5 percent of GDP. This target remains unchanged from the government’s forecast of 2.5 percent for the current fiscal year.
Total revenues are projected to experience a year-on-year increase of 36 percent in the upcoming fiscal year, reaching up to EGP2.625 trillion.
Non-tax revenues are expected to reach approximately EGP600 billion in the next fiscal year, a similar figure to the previous fiscal year.
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