Cairo – Mubasher: Egypt’s overall deficit increased by 9% year-on-year between July and October 2018 to EGP 132.9 billion from EGP 121.4 billion, data released by the Ministry of Finance (MoF) showed on Monday.
Meanwhile, overall deficit to gross domestic product (GDP) fell to 2.5% in the first quarter of the new fiscal year 2018/2019 from 2.7% in the same period last year, the MoF said in its monthly bulletin.
Egypt is targeting an overall annual deficit of 8.4% for FY2018/2019 from 9.8% in FY2017/2018.
Egypt’s fiscal year begins on 1 July and ends on 30 June.
