Egypt’s Budget Deficit Exceeds Projection By 10%
Egypt posted a budget deficit of E£239.9bn ($34.8bn, 13.8% of GDP) for the 2012-13 fiscal year which ended on 30 June, according to the latest preliminary statistics from the Ministry of Finance. This figure is just over 10% higher than the deficit of E£217.6 ($31.5bn) projected in the revised original 2012-13 budget (see table).
Actual revenue for 2012-13 came in 12.4% down on the projected figure,...