98.5 billion pounds surplus in Egypt's budget

The monthly financial report issued by the Egyptian Ministry of Finance for July 2026 revealed a notable improvement in the country’s public finance indicators, supported by the continued implementation of the economic and financial reform program, the expansion of tax reforms, and enhanced efficiency in public expenditure management. These developments contributed to a decline in the fiscal deficit, the achievement of a record primary surplus, and an increase in tax revenues.

The report stated that the nominal overall fiscal deficit decreased by approximately 51 billion Egyptian pounds, while its ratio to GDP fell by about 1.2 percentage points, reaching 5.3% during the period from July 2025 to May 2026, compared to 6.5% of GDP during the same period in the previous fiscal year.

It added that the primary surplus rose significantly, achieving an annual growth rate of 70%, to reach 985.1 billion Egyptian pounds, equivalent to 4.6% of GDP during the period, compared to approximately 580.4 billion Egyptian pounds, representing 3.2% of GDP during the corresponding period in the previous fiscal year. The improvement was attributed to strong growth in tax revenues, which increased by 27.5% compared to the same period last year, reaching 2.488 trillion Egyptian pounds over the first 11 months of the fiscal year, equivalent to 11.7% of GDP.