Egypt budget deficit hits 13.8% of GDP
Cairo - MENA
Egypt’s total budget deficit recorded 13.8 percent of the country's gross domestic product (GDP) in the fiscal year 2012/13, the finance ministry revealed on Thursday. According to the ministry's bulletin, the deficit has jumped to 239.9 billion, compared with 136.5 billion in the period from July to May of the 2011/12 fiscal year. The ministry also noted that government revenues had risen by 13.5 percent within 11 months to stand at 344.6 billion pounds from 303.6 billion pounds in 2011/12 fiscal year.
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