Minister: Egypt registers primary surplus of EGP 105.5 bln despite coronavirus crisis
Saturday، 19 December 2020 - 04:35 PM
Finance Minister Mohamed Maait said Saturday 19/12/2020 that Egypt registered a primary budget surplus of EGP 105.5 billion despite the outbreak of coronavirus pandemic.
Maait’s comments came in a speech he delivered on behalf of Prime Minister Moustafa Madbouli during the opening session of the seventh edition of Akhbar el Youm Economic Conference.
"You couldn’t see many countries that have been able to achieve a primary surplus amid this global crisis," Maait said.
The coronavirus started as a health crisis, then turned to be global economic and social crises that hit all aspects of life leading to major consequences, the minister said.
Egypt managed to handle such crisis and its ramifications in a prudent way, especially after earmarking EGP 100 billion, two percent of GDP, as well as enacting several stimulus decisions, to cushion its dire impacts on various sectors.