Egypt announced Thursday that it had a primary budget surplus for the first time in 15 years. Finance Minister Mohamed Maiet said that Egypt achieved a primary budget surplus of 0.2% of GDP, worth EGP4bn (USD223mn) in FY17-18, and that the country is aiming to achieve a 2% primary surplus in the current fiscal year. Egypt expected its FY17-18 budget deficit to stand at 9.8% of GDP, slightly above the 9.1% it said last year it was targeting.
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