Middle East Economic Survey

VOL. XLVIII

No 32

8-August-2005

Egypt

Egypts Fiscal Reform Moves Forward But Budget Deficit Persists

Fiscal reform under the year-old cabinet of Prime Minister Ahmad Nazif has moved forward with key structural changes in taxes and subsidies, and the modernization of fiscal accounts, but Egypts budget deficit persists according to government figures. Egypts Official Gazette puts the deficit for fiscal year 2005-06 (July-June) at E59.4bn ($10.1bn at the current exchange...