Budget Deficit reports 11.5% of GDP in FY2014/15

Egypt’s overall budget deficit for FY2014/15 declined to 11.5% of GDP, compared to 12.2% in FY2013/14 and 13.7% FY2012/13, Ministry of Finance (MOF) announced. Projected budget for FY2015/16 is set at a total deficit of EGP251 billion or 8.9% of GDP. For the first 2 months of this fiscal year, budget deficit reported EGP68.2 billion or 2.4% of GDP.