Egypt’s Sisi approves 2016-2017 draft budget
President Abdel Fatah al-Sisi. Youm7 archive.

 CAIRO: Egypt’s President Abdel Fattah al-Sisi approved the 2016-2017 draft budget on Thursday and has sent it to parliament for passage, state news agency MENA said.

The draft reduces the budget deficit for 2016-17 to 9.8 percent from the current rate of 11.5 percent, and targets a growth rate of 5.2 percent versus 4.4 percent currently, MENA said.


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