Kjok: Raising reserves to 4.6% for risks

Finance Minister Ahmed Kjouk stated that the new general budget aims to achieve a primary surplus of 5% of the gross domestic product and to reduce the overall deficit to 4.9%. The government has also decided to establish reserves amounting to 5% of total spending to strengthen the country's ability to confront economic and geopolitical challenges, with the reserves allocated for risk mitigation increasing to 4.6% of expenditures in the upcoming fiscal year. These measures are intended to maintain the stability of the Egyptian economy and enhance its resilience in the face of regional and global developments.

Size: 120%Text Size

Notice: This Is an AI-Generated Summary

Display The Full Article