Sisi urges maintaining financial performance to reduce deficit

Egypt’s President Abdel Fattah El-Sisi urged maintaining performance regarding the general budget indicators, leading to achieve an initial surplus of 1.5 percent.

Sisi made the remarks in a meeting with Prime Minister Mostafa Madbouli and Finance Minister Mohamed Mait on Monday.

The state’s performance in this regard should also work on reducing the total deficit of the general budget to 6.7 percent and reducing the debt to less than 90 percent, Sisi explained.

The president also urged continuing to support the state’s development projects and meeting the necessary needs of the development sectors, especially in health and education.

During the meeting, Mait said the allocations for all expenditure sections increased during the first quarter of the current fiscal year, especially with regard to providing adequate funding for the implementation of various government investments, especially Haya Karima initiative.