VOL. XXXVI

NO. 52

27-SEPTEMBER-1993

Financial and Banking News

BUDGETS AND REVENUES

Egypt's Non-Oil Trade Contracts

Egypt's exports and imports fell sharply in the first half of this year,compared to the same period in 1992. Non-oil exports fell by 22% to E2,490mn($741mn), while imports fell by 9% to E11,870mn ($3,533mn). The net result wasa 5% reduction in the non-oil trade deficit, which stood at E9,380mn($2,792mn). The fall in imports is attributed in part to the lifting ofsubsidies on some...