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Elham AbolFateh

Business

2019 budget to be cut to 8.5% of GDP: Presidential Spokesman

Sunday 11/March/2018 - 11:59 AM
Sada El Balad
Mohamed Emad

Saturday’s meeting between President Abdel Fattah al-Sisi، Prime Minister and Finance Minister aimed to discuss results of the 2017 – 2018 financial performance، said Presidential Spokesman، Ambassador Bassam Radi

“During the meeting، Al Sisi reviewed the preliminary features of the draft budget for the next fiscal year 2018 – 2019،” Radi added.

In remarks to “ON Live” satellite channel، Radi noted that the second part of the meeting is related to the presentation of the features of the draft budget for the next fiscal year، which aims to cut the budget to 8.5% of GDP.

“They had discussed ways of implementing submissions program and issuing shares of private sector companies،” he added.

Radi explained that about 20 companies in the fields of energy، petrochemicals and information technology will enter the market.

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