Financial and Banking News
BUDGETS AND REVENUES
Egypt's Draft Budget Holds Down Expenditure
Egypt's Finance Minister, Mr. Muhammad al-Razzaz, presented the government'sdraft budget for 1993/94 to the People's Assembly on 12 May. It envisages a 4.5%increase in expenditure over the budgeted figure for the present year. Revenuesare due to increase by 5.5%. The deficit is set to fall slightly and will befinanced primarily from local sources rather than foreign loans. The...