VOL. XXXIX

No. 47

19-August-1996

EGYPT

Egyptian Budget Keeps Pace With Inflation

The Egyptian budget for the fiscal year 1996-97, which was published in the Official Gazette of 18 July and is summarized on page B2, projects increases in both expenditure and revenue roughly in line with a rate of inflation of 8%. In broad terms, the budget continues the policy established in 1995-96 of cutting investment while maintaining growth of current expenditures and boosting revenue - and...