July 17 (Reuters) - Egypt total budget deficit falls to 505 billion Egyptian pounds ($10.48 billion) in the fiscal year 2023/24 that ended June 30 compared to 610 billion pounds a year earlier, finance minister said in a statement on Wednesday.

The country recorded a preliminary surplus of 857 billion Egyptian pounds in the 2023/24 budget compared with 164 Egyptian pounds in the previous year, the minister added.

Egypt devalued its currency in March to curb rising inflation. The pound was fixed at 30.85 for a year before plunging to under 50 and is now trading at around 47 to the dollar. ($1 = 48.1700 Egyptian pounds) (Reporting by Momen Saeed Atallah, Editing by Louise Heavens)