VOL. XXXVIII
NO. 31
1-MAY-1995
Financial and Banking News
Public Finance
Parliament Approves 10% Increase In Egyptian Budget
The draft Egyptian budget for 1995-96, which was approved by the People'sAssembly (parliament) on 19 April, proposes a 40% reduction in the basic deficitto Eœ5.3bn ($1.6bn) from Eœ8.8bn ($2.6bn) in the previous year. Total expenditure is set at Eœ71.5bn ($21.0bn), or Eœ6.4bn ($1.9bn) more than the currentbudget, and revenue at Eœ66.2bn ($19.4bn). The new budget, which starts...
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