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Egypt's H1 2016/17 budget deficit narrows to 5 pct- Finance Minister
January 11, 2017 / 12:28 PM / 10 months ago

Egypt's H1 2016/17 budget deficit narrows to 5 pct- Finance Minister

CAIRO, Jan 11 (Reuters) - Egypt’s budget deficit in the first half of 2016/17 narrowed to 5 percent from 6.3 percent in the same period a year earlier, Finance Minister Amr El-Garhy said on Wednesday.

In July, when its financial year starts, Egypt had forecast a deficit of 9.8 percent for 2016/17.

The central bank abandoned the pound’s peg of 8.8 per dollar in November and the pound has since halved in value. (Reporting by Asma Alsharif, editing by Larry King)

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