January 30, 2018 / 9:30 AM / 4 months ago

Egypt sees budget deficit at 9.4 pct/GDP in 2017-18-deputy finmin

CAIRO, Jan 30 (Reuters) - Egypt’s budget deficit for the 2017-2018 fiscal year is expected to reach 9.4 percent of gross domestic product (GDP), up from previous projections of about nine percent, the deputy finance minister told Reuters on Tuesday.

The rise is due to an increase in global oil prices and high local interest rates, Mohamed Meait said. (Reporting by Ehab Farouk; Writing by Nadine Awadalla, Editing by William Maclean)

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