Egypt’s budget deficit hits 19% in Q1 of FY 2015/16: minister
Finance Minister Hani Kadry - YOUM7 (Archive)
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CAIRO: Egypt’s overall budget deficit stood at 19 percent to reach 78.3 billion EGP ($9.8 billion) in three months-from July to September of FY2015/2016, compared to 65.8 billion EGP in the same period last year, Finance Ministry announced Thursday.

Total revenues in this period amounted to 100 billion EGP (3.5 percent of GDP,) compared to 76.5 billion EGP (3.1 percent of GDP) in the same period last year, the ministry said in its a report posted on its website.

Total expenditures hiked to 169.9 billion EGP (6 percent of GDP) during July-September 2015, compared to LE 140.9 billion (5.8 percent of GDP) during the same period last year, according to the statement.

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