ARTI Egitto definitivo - ARTI Puglia

The reform programme is a work in progress. Noteworthy that the reform record has
substantially improved since Nazif government came to power. Egypt has made substantial
progress in developing its legal, tax and investment infrastructure. Indeed, over the past 5
years, Egypt has passed, amended and admitted over 15 legislative pieces. The economy is
expected to grow by about 7%-8% in 2007/2008.
Table 2 - Egypt's Summary of Budget Financing (Billions of Euros and Fiscal years)
2002 2003 2004 2005 2006 2007 2008 2009
Revenues 18,01 14,17 12,94 15,3 20,87 22,21 22,9 34,19
Taxes 11,68 8,86 8,53 10,45 13,49 14,01 14,89 20,65
Grants 0,98 0,52 0,64 0,3 0,33 0,47 0,39 0,57
Expenditures 26,58 20,24 18,54 22,3 28,68 27,36 29,95 42,2
Wages and
Compensations
7,02 5,38 4,73 5,73 6,45 6,61 7,39 10,17
Interest 5 4,11 3,9 4,52 5,08 6,51 6,45 6,56
Subsidies and
Social Benefits
4,15 3,28 3,14 4,1 9,51 6,69 7,99 16,57
Cash Deficit -8,56 -6,07 -5,6 -7 -7,8 -4,79 -7,05 8,02
Net Acquisition of
Financial Assets
-0,29 -0,89 -0,25 -0,12 0,85 -1,19 -0,24
Overall Deficit -8,85 -6,96 -5,85 -7,13 -6,95 -6,34 -7,29
Net Borrowing 8,76 6,95 5,85 7 6,94 6,28 7,17
Proceeds from
Privatization
Deficit as % of
GDP
0,96 0,006 0,002 0,14 0,02 0,06 0,12 1,24
-
10,20%
-
10,50% -9,50% -9,60% -8,20% -6,70% -6,90% -6,40%
Source: Ministry of Finance (Figures for 2008 and 2009 are budget estimates)
14
THE RESEARCH AND INNOVATION SYSTEM IN EGYPT