(MENAFN) Egypt set 7.2 percent as its targeted budget deficit for the fiscal year 2019-2020 as the country looks to strengthen its economic situation.
Finance Minister Mohamed Maait revealed that Egypt is also planning to achieve 6.1 percent of the GDP growth during the 2019-20 fiscal year.
Meanwhile, the finance minister declared, Egypt is aiming to reduce the deficit to reach 8.4 percent of the GDP during the 2018-19 fiscal year, compared to the 9.8 percent recorded in the last one.
Maait added that the country is witnessing a recovery in its economic conditions thanks to investors, institutions and global financial indicators.
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