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Egypt revises budget deficit to 11% of GDP
- Egypt: Wednesday, September 12 - 2012 at 15:23
Egypt's finance minister, Mumtaz al-Saeed has said the government has revised up its budget deficit for the 2011/12 fiscal year to 11% of gross domestic product from an earlier projection of 8.6%, Reuters has reported. The deficit was EGP170bn ($27.92bn) in the year that ended on June 30 and not the EGP134bn projected earlier, the minister said.
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