VOL. XXXVII

NO. 34

23-MAY-1994

Budgets &Revenues

Draft Egyptian Budget For Next Year Limits Spending Increase To 8%

The draft Egyptian budget for 1994/95 proposes an 8% increase in expenditureand foresees a 10% increase in revenues. As a result, the basic deficit isexpected to fall 11.4% of total budget outlays. Nearly all of the shortfall willbe covered from domestic savings and loans from local and foreign sources. Thedraft budget was presented to Egypt's People's Assembly on 10 May and is...