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Egypt may ask IMF to increase $4.8bn loan
- Egypt: Thursday, April 11 - 2013 at 02:01
Egyptian planning minister has said the government might ask the International Monetary Fund (IMF) to increase a previously requested $4.8bn loan to cover its budget deficit, Reuters has reported. "It's very possible that we will increase the request but so far we are talking about $4.8bn," Ashraf El-Araby told reporters during a visit to Qatar. The minister also said the government had targeted a budget deficit of 9.5% of gross domestic product in the fiscal year ending in June.
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