Egypt: Finance Min. - Economic Reform Path Reaps Fruits in Fy 2023-2024

Minister of Finance Mohamed Maait said a new path of the Egyptian economy, based on structural reforms supporting the track of recovery, has started reaping fruits according to the macroeconomic indicators of the fiscal financial performance for the year 2023/ 2024.

The minister added that we recorded a primary surplus of 416 billion pounds at a rate of 3% of the gross domestic product, compared to 50 billion pounds at a rate of half a percent (5.%) in the same period of the last fiscal year, with an annual growth rate of more than 8 and a half times, pointing out that 179 billion pounds were transferred to the state treasury from the "Ras El Hekma City Development" project, amounting to 1.3% of the gross domestic product.

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