Egypt Posts Higher Primary Surplus in First Half of FY 2025–26

Egypt recorded a primary surplus of EGP 382.8 billion in the first six months of fiscal year 2025 to 2026, equal to 1.8% of GDP. The Ministry of Finance said this compares with EGP 230.3 billion, or 1.3% of GDP, in the same period a year earlier.

The ministry placed the latest surplus at approximately USD 8.1 billion, versus around USD 4.9 billion a year earlier. The overall budget deficit reached EGP 881.7 billion, equivalent to 4.2% of GDP, versus EGP 708.8 billion, or 4% of GDP, in the comparable period.

On a dollar basis, the ministry estimated the shortfall at roughly USD 18.7 billion, compared with about USD 15 billion in the same period of the previous fiscal year. Tax receipts increased by approximately 32% to EGP 1.204 trillion, up from EGP 912.4 billion a year earlier, according to the ministry.

It said collections rose across tax categories and attributed the outcome to stronger engagement with businesses and continuing tax reform efforts.

In dollar terms, the ministry placed tax revenues at around USD 25.6 billion for the period, up from approximately USD 19.4 billion a year earlier. Total government revenues rose 30.2% to EGP 1.381 trillion, while expenditures grew 26.9% to EGP 2.235 trillion in the first half of the fiscal year.

The ministry provided approximate dollar equivalents of USD 29.3 billion for revenues and USD 47.5 billion for expenditures over the same timeframe.