NO. 39


Financial and Banking News

Public Finance

Egyptian Government Spending To Outstrip Inflation

The Egyptian budget, published in The Official Gazette of 14 May, shows totalgovernment spending set to rise by 10%, marginally more than the rate ofinflation, currently put at 8.6%, and growing faster than the increase inrevenues. Although the draft includes full figures for debt servicing, noinformation is given on military expenditure and, as a consequence, the numbers...