Egypt’s Budget Deficit Registers EGP252bln in FY13/14

Egyptian Finance Minister Hany Kadry said the total budget deficit ups 12.6% of the GDP registered EGP252 billion in the FY13/14 in compared to EGP240 billion in the last year FY12/13, Kadry explained.

The targeted deficit from the beginning of the last year is 9% but it was based on economic and financial measures won’t implement due to the circumstances which experienced by Egypt, he added.

These reforms are actually began in last July such as restructuring the pump of energy subsidiaries.