Egypt’s Budget Deficit Set To Rise
Egypt’s budget deficit is expected to rise to E£200bn ($28.8bn), or 11.5% of GDP for 2012-13, Investment Minister Yahya Hamid says. This is 7.8% above the official “revised” 2012-13 (July ’12-June ’13) projection of E£185.5bn ($26.7bn). IMF spokesman Gerry Rice says the fund is working with Egypt to ensure that the long-discussed $4.8bn standby arrangement will address...
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