Budget deficit rises to EGP 107.9bn in November

Budget deficit rose to EGP 107.9 billions, or 4.6 percent of forecasted for this fiscal from July to November, the Ministry of Finance said Saturday.
In its monthly report, the ministry said the latest increase in the budget deficit came compared to only EGP 65.9 billions, or 3.3 percent of the GDP, during the same period last year, the ministry added.
Expenditure soared to EGP 231.8 billions, against EGP 190.7 billions last year, the ministry added.
Meantime, the incomes dropped to EGP 126 billions, 5.4 percent of GDP, compared to 126.7 billions in the same period last year, the report outlined.