The Deputy Minister of Finance for Financial Policies, Ahmed Kojak, said that petroleum sector achieved a surplus in the state’s public budget exceeding EGP 20 billion during the first nine months of the current fiscal year (FY) 2019/20, according to the General Trade Union for Petroleum Workers (GTUPW) website.

He added, during a video conference meeting with representatives of international oil companies (IOCs) that are operating in Egypt, that this is the first time to achieve such a surplus in several years. The meeting was organized by the American Chamber of Commerce and the US Agency for International Development (USAID).