VOL. XLV

No 31

5-August-2002

EGYPT

EgyptianGovernment Forecasts Hefty Jump In Deficit For 2002-03Budget

The Egyptian budget for the year 2002-03(beginning 1 July) forecasts a hefty jump in the deficit as increases in revenuefail to keep pace with government expenditure. The net final deficitaccording to projections in the OfficialGazette published on 13 June will reach E9.9bn ($1=E4.51), up 426% fromE1.9bn in the previous year (See Table). The budget foresees a 121.9% climb inthe total deficit to...