Egypt's budget deficit in Q1 FY 2018/19 down to 1.9%

CAIRO - 21 November 2018: Egypt’s budget deficit for the first quarter of the 2018-2019 fiscal year starting in July was slightly down to 1.9 percent from 2 percent last year, Finance Minister Mohamed Ma'it said.

Egypt has been looking to tighten control of its finances as it pushes ahead with ambitious economic reforms tied to a $12 billion three-year International Monetary Fund lending program it agreed in late 2016.