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Hany Kadry, Minister of finance, said that he expects the public deficit in the budget during the current fiscal year 2013/2014 to reach 11-12% from the GDP.
He added that in case the various grants and non-recurring income and expenditure of the public budget were excluded the deficit would increase to 13-14%.
Kadry revealed that he would follow a strict budgetary policy and not a policy of austerity.
Source: arabfinance
