22 February 2013

Egypt: Rising Deficit Poses Investment Threat - - Minister

Rising budget deficit to 12 % of the gross domestic product (GDP) during June 2012 poses a significant threat to investments in Egypt, warned Planning and International Cooperation Ashraf el-Arabi.

The increase in budget deficit contributes to upping the rates of the inflation, el-Arabi said in statements on Thursday 21/02/2013.

Arabi, meanwhile, said that subsidies allocated for energy in the budget exceeds what are spent on the health and education sectors.

This situation can not be ignored and will not continue, he added.

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