Egypt 2016/17 budget sees deficit of 9.8%: finance ministry

Egypt’s 2016/17 budget forecasts a deficit of 9.8 percent, the Finance Ministry announced in a statement on Monday.

Revenues are expected to reach 669.7 billion Egyptian pounds ($75.42 billion) while spending is expected to reach 974.8 billion pounds, the statement said.

Egypt’s parliament approved the draft budget on June 28.

Source: Reuters