Ministry: Egypt’s budget deficit rises to 9.9% of GDP in 10 months

Egypt's budget deficit in ten months to April rose to 9.9 percent of gross domestic product (GDP), compared with 8.2 percent for the same period last year, the finance ministry said on Friday.

The deficit since the start of the fiscal year in July until the end of April reached LE230.9 billion (US$30.4 billion), from LE163.3 billion for the comparative period, the ministry said in a report on its website.

The latest fiscal data shows total revenues increased by LE6.3 billion (2 percent growth) to record LE321 billion during July-April 2014/2015 compared to LE 314.8 billion during the same period last year.

Meanwhile, total expenditure increased by 14.8 percent to reach LE541.7 billion (23.3 percent of GDP) during July-April 2014/2015, from LE 471.8 billion (23.6 percent of GDP) for the comparative period.

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