Tuesday 11 September 2012

Egypt revises up 2011/12 budget deficit to 11 pct of GDP | Reuters

Egypt revised up its budget deficit for the 2011/12 fiscal year to 11 percent of gross domestic product from an earlier projection of 8.6 percent, the finance minister said on Tuesday.

The deficit was 170 billion Egyptian poundsin the year that ended on June 30 and not the 134 billion pounds projected earlier, Mumtaz al-Saeed said in a statement carried on the Finance Ministry website.

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