CAIRO, Dec 23 (Aswat Masriya) - Egypt’s budget deficit for the period between July and October 2016 reached EGP107.3 billion, the finance ministry said on Thursday.
In a report published on its website, the ministry said that the deficit increased compared to the same period last year when it was EGP96.7billion.
The report also included information on the final general budget account for FY2015/16, which showed a deficit of EGP339.5billion which is around 12.3 pct of the GDP compared to EGP279.4billion for the FY 2014/15.
The ministry said the final general budget account for FY 2015/16 is still being reviewed by the House of Representatives to be ratified.
Egypt is targeting a budget deficit of 9.8 pct for the FY2016/17 and between 8.5- 9.5 pct of GDP for the FY2017/18, the ministry previously said.