Egypt's budget deficit could swell
to 180 billion Egyptian pounds ($26.74 billion), or 10 percent of gross
domestic product, in the 12 months to the end of June, Planning Minister Ashraf
al-Araby said on Thursday.
Government finances have been put
under additional strain by an 8 percent fall in the Egyptian pound's value
against the U.S. dollar since the start of the year. The state spends heavily
on subsidizing fuel and food, much of it imported. ($1 = 6.7326 Egyptian
pounds)
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