VOL. XLVII

No 05

02-February-2004

BUDGETS AND REVENUES

EGYPT

Egyptian Budget Deficit Grows To $4.7Bn In 2003-04

The Egyptian budget deficit is set to rise to E28.1bn ($4.7bn at the mid-2003 exchange rate of $1 = E6) in the fiscal year running from July 2003 to June 2004, with total expenditure projected at E159.6bn ($26.6bn) and total revenue at E131.5bn ($21.9bn). The deficit represents a 61% increase on the budgeted deficit for 2002-03 (MEES, 5 August 2002) with an 11.6% increase in budgeted...