CAIRO: Egypt’s finance minister said on Monday he expected Egypt’s budget deficit to rise to 9.5 percent of gross domestic project (GDP) in the financial year that begins next July, the state MENA news agency reported.
Finance Minister Samir Radwan had been quoted last week as predicting a deficit of 9.1 percent, up from an expected 8.5 this financial year.
Radwan also predicted that GDP would grow by only 2.5 to 3 percent in the 2010/11 financial year, which ends on June 30, MENA reported. The government before political unrest broke out in January had been predicting growth of around 6 percent.
