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FINANCIAL NEWS
Egypt expects FY revenue to reach $51b
25 Mar 2010
(MENAFN) Egypt’s parliament expects revenue of $51 billion in the coming financial year ending June, 2011, and a budget deficit of $19.84 billion, Reuters reported.
This compares to this year’s estimates of $46.95 billion of revenue, and budget deficit of $17.9 billion.
Finance Minister, Youssef Boutros-Ghali, said that the budget deficit is expected to contract by 0.5 percent points to 7.9 percent of gross domestic product (GDP) in the coming year.
The budget estimates that GDP will increase by 5.8 percent next year from a projected 5 percent this year. The parliament has yet to approve the budget.
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