Egypt's state budget deficit is likely to grow to 9.38 percent in the 2011-12 fiscal year from around 8.5 percent now as it spends more to boost a sagging economy, the country's finance minister said on Monday.
Samir Radwan told Reuters the draft budget due to be presented to cabinet foresees state income of 342.6 billion Egyptian pounds and spending of 500.7 billion pounds.
Planning and International Cooperation Minister Faiza Abu el-Naga announced a development plan worth 230 billion pounds on Monday to kick start the economy after a popular revolt ousted Egypt's president.
No comments:
Post a Comment