March 31, 2019 / 7:54 PM / 18 days ago

Egypt targets 445.1 billion Egyptian pound deficit in 2019/2020 - ministry

CAIRO, March 31 (Reuters) - Egypt expects a total deficit of 445.1 billion Egyptian pounds ($25.76 billion) in its 1.575 trillion pound draft 2019/2020 budget, the finance ministry said in a report on Sunday.

The government aims for the deficit to be 7.2 percent of gross domestic product, versus 8.4 percent targeted in the 2018/2019 budget. Expenditures increased 12 percent from an expected 1.403 trillion pounds in the 2018/2019 budget.

The 2019/2020 draft budget targets total revenues of 1.134 trillion Egyptian pounds, according to the report, 17 percent higher than the 969 billion pounds in revenue expected in the 2018/2019 budget. .

$1 = 17.2800 Egyptian pounds Reporting by Yousef Saba Editing by Andrew Heavens

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