{"id":324943,"date":"2022-03-21T09:03:09","date_gmt":"2022-03-21T09:03:09","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=324943"},"modified":"2022-03-21T09:03:09","modified_gmt":"2022-03-21T09:03:09","slug":"egypt-lowers-fy-2022-2023-budget-targets-as-russia-ukraine-crisis-pressure-economies","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/03\/21\/egypt-lowers-fy-2022-2023-budget-targets-as-russia-ukraine-crisis-pressure-economies\/","title":{"rendered":"Egypt lowers FY 2022-2023 budget targets as Russia-Ukraine crisis pressure economies"},"content":{"rendered":"

The Finance Ministry has revised downwards its fiscal targets for FY 2022-2023 as rising commodities prices put pressure on public finances, according to figures published in an Ittihadiya statement<\/a><\/p>\n

Deficit still on course to narrow:<\/strong> The government now sees the budget deficit contracting to 6.3% of GDP in the upcoming 2022-2023 fiscal year from an expected 6.9% in the current FY. Preliminary figures released by the ministry in January had targeted a 6.1% deficit in the coming fiscal year.<\/p>\n

This will mean a slimmer primary surplus:<\/strong> The ministry has lowered its primary surplus target to 1.5% in 2022-2023 from 2% previously.<\/p>\n

No word on debt:<\/strong> Finance Minister Mohammed Maait didn\u2019t disclose the ministry\u2019s debt-to-GDP target for the coming fiscal year. The minister said in January that public debt levels were expected to fall to below 90% of GDP in 2022-2023.<\/p>\n

Or GDP:<\/strong> The statement didn\u2019t disclose whether the government has altered its growth forecast in response to the conflict and the resulting inflation. The ministry is currently targeting a 5.7% growth rate in 2022-2023.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Finance Ministry has revised downwards its fiscal targets for FY 2022-2023 as rising commodities prices put pressure on public finances, according to figures published in an Ittihadiya statement<\/p>\n","protected":false},"author":4,"featured_media":320370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,21],"tags":[],"class_list":["post-324943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","category-news"],"yoast_head":"\nEgypt lowers FY 2022-2023 budget targets as Russia-Ukraine crisis pressure economies - egy-africa<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2022\/03\/21\/egypt-lowers-fy-2022-2023-budget-targets-as-russia-ukraine-crisis-pressure-economies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt lowers FY 2022-2023 budget targets as Russia-Ukraine crisis pressure economies - 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