Government aims to reduce deficit, unemployment rates in 2018/2019 budget
Tuesday، 06 March 2018 - 02:11 PM
Prime Minister Sherif Ismail has said that the government aims at reducing the budget deficit and unemployment rates in the draft general budget for the fiscal year 2018/2019, which will be submitted to the House of Representatives before March 31.
He also pledged that the proposed budget would target increasing exports and allocations for social protection programs and improving the level of services provided to citizens and increasing their efficiency.
A statement issued by the Cabinet’s Information office said that this came during the meeting the Premier had this afternoon with Minister of Finance Amr el Garhi, in the presence of the two deputy ministers for treasury and financial policies to review the main features of the draft general budget for the fiscal year 2018/2019.
For his part, the finance minister said during the meeting that the new draft aims to reduce the budget deficit to below 9% and achieve a 1.8- 2% surplus of GDP, vowing that the planned budget would contribute to driving the economy further.
The statement added that the Minister of Finance reviewed during the meeting financial indicators for the current fiscal year 2017/2018, and the expected results reached by the end of the fiscal year, pointing out that the indicators are giving positive results so far and moving in the expected direction.