EGYPT
 
Egypt’s New Budget Targets 14.5% Deficit Cut
 
Egypt’s Ministry of Finance has published in its July 2013 Financial Monthly preliminary details of its budget for fiscal 2013-14 (which started on 1 July). This targets a deficit 14.5% down on that contained in the latest revision to the 2012-13 budget; taking actual revenue and expenditure figures for the first 11 months of 2012-13 implies an even more ambitious 17% cut (see table). Of course with...