September 4, 2018 / 8:13 AM / in 2 months

Egypt expects budget deficit of overall budget deficit of 8.4 pct in fy 18/19

CAIRO, Sept 4 (Reuters) - Egypt is targeting a budget deficit of 8.4 percent of GDP for the 2018-19 fiscal year that ends in June, compared with 9.8 percent in the previous year, Finance Minister Mohamed Maait told a news conference on Tuesday.

“Our economy has grown faster than we’ve expected, our GDP has grown faster than the falling of our debt,” Maait said. (Reporting by Nadine Awadalla and Patrick Werr, editing by Louise Heavens)

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