Middle East Economic Survey


No 6



Egypts Spending Falls, Deficit Increases On Shrinking Public Revenues

Egyptian government spending fell by 6.8% in the last six months of 2009 compared to the same period in 2008, the countrys Ministry of Finance has said in a new report. Figures on the ministry website showed total spending to have fallen to E152.44bn ($27.85bn), mostly as a result of a major drop of 45.75% in spending on subsidies, grants and social benefits to E39.44bn...