"Egypt\u2019s budget deficit likely to fall to 6.3% of GDP

" \n Egypt\u2019s budget deficit likely to fall to 6.3% of GDP - IMF \n \n\n \n The International Monetary Fund (IMF) is expected to narrow down its forecast for Egypt\u2019s budget deficit by the end of fiscal year (FY) 2021\/2022, according to the \u00a0IMF\u2019s latest Fiscal Monitor Report. \n \n\n \n The decline is projected to be at a slower pace over the coming years as compared to previous expectations, the IMF said in its report. \n \n\n \n The IMF expects that Egypt\u2019s budget deficit would shrink to 6.3% of gross domestic product (GDP) by the end of FY2021\/2022, compared to 7.3% in FY 2020\/2021. \n \n\n \n Moreover, the fund projects that the deficit would maintain declining to 4.4% of GDP in FY 2025\/2026. \n \n\n \n Primary surplus is expected to improve slightly to record 1.7% of GDP by the end of FY 2021\/2022, as compared to the previous forecast of 1%, the report showed. \n \n\n \n Meanwhile, public spending is projected to increase to 27.4% of GDP in FY 2021\/2022, versus 27.2% that was recorded in FY 2020\/2021. \n \n\n \n Also: Ghana\u2019s growth rate revised to 4.7% by the IMF \n \n\n \n The country\u2019s gross debt is projected to fall until FY 2025\/2026 when it reaches 74.1%. \n \n\n \n The IMF expects revenues to grow to 21% in FY 2021\/2022 and to reach 21.6% in FY 2025\/2026. \n \n\n \n On the other hand, healthcare spending are likely to edge up by 0.2% in 2020-2030. \n \n\n \n Furthermore, the report forecast a decrease of 2.1 in interest rate growth from 2021 to 2026. \n \n\n \n It is worth noting that the IMF raised its forecast for\u00a0 Egypt\u2019s economic growth \u00a0during FY 2020\/2021 to 3.3%, versus its expectation announced in July of 2.8%, according to its latest world's economic outlook report. \n \n\n \n The IMF also maintained its forecast regarding the economic growth of Egypt in FY 2021\/2022 at 5.2%. \n \n\n \n Regarding the inflation rate, the IMF forecasted that Egypt\u2019s inflation rate would grow to 6.3% in FY 2021\/2022, versus 4.5% in FY 2020\/2021. \n "

"Egypt\u2019s budget deficit likely to fall to 6.3% of GDP

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