The budget deficit for the fiscal year 2013/14 is estimated to swell up to LE197.493, as compared to a deficit of LE134.996 billion in the previous year, according to copies of the budget obtained by Al-Masry Al-Youm.
Revenues are estimated at LE497.145 billion, mainly generated by taxes and grants, whereas expenditures will balloon to LE692.421 billion, up from LE533.784 billion last year.
Most of the state’s money would be spent on subsidies, grants and social benefits, with LE205.540 billion devoted to public expenditures, while the least would be spent on purchasing goods and services, which is estimated at LE30.704 billion.
The country’s GDP was estimated at LE2.071 trillion, up from LE1.733 trillion last year.
The Shura Council’s financial committee discussed this year’s budget in a meeting on Sunday evening. The committee began training its members on how to read the state budget so as to be able to discuss it in the coming months.
Edited translation from Al-Masry Al-Youm
