22 December 2012

Egypt: Minister - Egypt's Budget Deficit May Reach EGP 200 Billion

Finance Minister Momtaz el-Saeed said Egypt has been suffering imbalance in the state budget, saying that the total budget deficit in the country may be ranging between EGP 185 to EGP 200 billion if the current situation continues.

The minister made his remarks during a meeting with board of directors of the Federation of Egyptian Chambers of Commerce.

The meeting comes within a national dialogue called for by President Mohamed Morsi on the economic file and recent tax amendments.

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