VOL. XXXI

NO.44

8-AUGUST-1988

Financial and Banking News

BUDGETS AND REVENUES

1988-89 Egyptian Budget

The Egyptian budget for the fiscal year 1 July 1988-30 June 1989, the secondyear of the current five-year development plan, was approved by the People'sAssembly (parliament) on 26 June. It provides for total expenditures of E28,733.8mn,*(up 24.6% from E23,058.9mn in 1987-88) and total revenues of E21,514.2mn (up18.7% from E18,118.2mn in 1987-88), leaving a record gross deficit ofE7,219.6mn, up...