Egypt Receives Second Tranche of $35 Billion Investment for Ras El-Hekma egyptianstreets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from egyptianstreets.com Daily Mail and Mail on Sunday newspapers.
Egypt’s budget initial surplus has jumped over 8.5 folds during the first nine months of the current fiscal year (FY) 2023/2024 to EGP 416 billion ($8.7 billion), compared to EGP 50 billion in the same period of FY2022/2023, Minister of Finance Mohamed Maait announced on Monday. Maait said that general state expenditures increased to EGP 2.3 trillion, an annual growth rate of 50.8%, during the past nine months, resulting from the significant rise in interest rates and increased spending on support, social protection, and wages.