Middle East Economic Survey


No 29


Egypt Adopts Deficit Budget In 2009-10 To Boost Its Economy

The Egyptian government has adopted a relatively expansionary budget for 2009-10 in order to stimulate its economy and maintain reasonable growth. But with lower revenue from hydrocarbons and the Suez Canal as the world recession continues to bite, it is set to end the year with a large budget deficit.

Egypts budget for fiscal 2009-10, which begins on 1 July, projects a deficit of E...