Egypt says deficit shrank to 3.6% in sixth months to December

Maait said in November that Egypt aimed to reduce its budget deficit for the full 2020/21 fiscal year to 7.5% from 7.9% in 2019/20

  
High Angle View Of River Amidst Buildings In City Against Sky Photo Taken In Cairo, Egypt

High Angle View Of River Amidst Buildings In City Against Sky Photo Taken In Cairo, Egypt

Getty Images/ Ahmed Shabaka / EyeEm

CAIRO- Egypt's overall budget deficit shrank to 3.6% from in the six months to end-December from the previous 4.1%, Finance Minister Mohamed Maait said in a cabinet statement on Thursday.

The state budget had a 14 billion Egyptian pound ($895 million) primary surplus during the period, which represents the first half of the 2020/21 fiscal year.

Maait said in November that Egypt aimed to reduce its budget deficit for the full 2020/21 fiscal year to 7.5% from 7.9% in 2019/20 and was targeting a primary surplus of 0.5%. ($1 = 15.6300 Egyptian pounds)

(Reporting by Ehab Farouk; Writing by Patrick Werr; Editing by Alison Williams) ((patrick.werr@thomsonreuters.com;))

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