*Egypt this week released official financial statistics for the first half of the 2020-21 financial year, that is to say 2H 2020 on a calendar basis, as well as for the 2019-20 financial year as a whole. In both instances the figures show not only spending but also revenues up year-on-year in real terms.
*These figures would appear to mesh with Egypt’s latest official GDP figures which have growth of 3.6% for 2019-20 and a forecast 2.8% for 2021-22. Even accounting for the vagaries of Egypt’s financial years, this is on the surface a world-beating performance (MEES, 11 December 2020). (CONTINUED - 841 WORDS)
