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Egypt to implement new budget on July 1

Momtaz El-Said, the Egyptian finance minister has said the implementation of the country's new budget is to begin on July 1, and that the Supreme Council of the Armed Forces (SCAF) is expected to approve it, Daily News Egypt has reported. The minister also said the incoming government will decide how to implement all planned tax reforms according to its vision, noting that economic indicators show that the economy gradually recovered with the restoration of security and political stability.