President El-Sisi Follows-up on State's Financial Performance Indicators for FY 2021/2022

Today, President Abdel Fattah El-Sisi met with the Ministerial Economic Group in the presence of Prime Minister Dr. Moustafa Madbouly, , Governor of the Central Bank of Egypt Mr.Tarek Amer, Minister of Planning and Economic Development Dr. Hala Elsaid, Minister of International Cooperation Dr. Rania Al-Mashat, Minister of Finance Mohamed Maait, Minister of Public Business Sector Hisham Tawfiq, Minister of Trade and Industry Ms. Nevin Gamea and Chief of the General Intelligence Major General Abbas Kamel.
The Spokesman for the Presidency stated that the meeting followed-up on the state's financial performance indicators during the fiscal year 2021/2022.
President El-Sisi was briefed on the preliminary results of the general budget performance for the fiscal year 2021/2022.  Revenue growth rate reached about 20% and the expenditure growth rate reached about 15%, in addition an initial surplus worth about 97 billion Egyptian pounds was achieved, 1.3% of the GDP.  The state general budget therefore achieved a primary surplus for the fourth consecutive year, in addition to reducing the total deficit to 6.1% from 6.8% in the fiscal year 2020/2021, as well as reducing the value of the debt service bill to 32.8% from 35.8 % of the state's general budget in the year 2020/2021.
The President followed up on the Ministry of Finance’s plan to reduce the public debt of the state’s general budget agencies in the coming period. The President gave directives to reduce the debt-to-GDP ratio in the coming period in comparison to the current one. This is in addition to rationalizing government expenditure and maintaining a disciplined public financial performance, while focusing in the coming period on supporting and enhancing social protection programs and continuing investments to maximize production and provide jobs, as well as continuing spending on health and education programs.