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

CAIRO - 30 January 2018: 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.