Government revenues in Egypt 2016-2023

As of the first half of fiscal year 2022/2023, the government revenues in Egypt were at roughly 686.8 billion Egyptian pounds (which is comparable to 22.23 billion U.S. dollars). Furthermore, the fiscal revenues amounted to close to1,326 billion U.S. dollars (42.92 billion U.S. dollars). This was higher than the value for FY2020/2021, which amounted to around 1,109 billion Egyptian pounds (35.9 billion U.S. dollars). From 2016/2017 onwards, the revenues generated by the government has been following a positive trend. With taxes being the largest share of government revenue, the Egyptian Ministry of Finance plansto broaden its value-added tax (VAT) base from 70 thousand to 550 thousand enterprises. This move plans to combat the shadow economy and improve financial inclusion. Furthermore, the government expenditure exceeded the revenues generated throughout the period under review, which led to a fiscal deficit.