Cairo – Mubasher: Egypt’s budget deficit widened by 20% during July-March 2015/16 to EGP223 billion, or 7.9% of GDP, against EGP186 billion, or 7.7% of GDP for the year-ago period, said the Ministry of Finance.
During the same span as well, public revenues reached EGP253.2 billion, compared to EGP208 billion in July-March 2014/15, the ministry added.
Further, public expenditures increased to EGP466 billion by the end of March 2015/16 from EGP385 billion by the end March 2014/15.
Earlier, finance minister said FY16/17 budget deficit is projected to reach EGP319.4 billion or 9.8% of GDP, against 11.5% budget deficit estimated for the current fiscal year.
