NO. 47


Financial and Banking News

Budgets & Revenues

Egyptian Budget Shows Reduced Deficit Based on Higher Tax Revenues

Full details of the Egyptian budget for the financial year 1991/92, whichbegan on 1 July 1991, have been published in the Official Gazette dated 11 July.The net budget deficit is due to shrink to 7.51% of total expenditure, comparedto 9.15% in 1990/91. This figure is calculated after taking account of loans anduse of domestic savings. The total...