CAIRO, March 26 The Egyptian government is
targeting a budget deficit of around 9.5 percent in its budget
for the 2017-18 fiscal year which starts on July 1, Prime
Minister Sherif Ismail said in a news conference on Sunday.
Ismail said he expected the deficit for the current fiscal
year, which ends on June 30, to be between 10.5 and 10.7 percent
compared to 12.2 percent in the previous year.
The government has yet to approve the budget, which has been
drafted by the Finance Ministry. After approval, the budget must
then be voted on by parliament before President Abdel Fattah
al-Sisi can sign it into law.
(Reporting by Ahmed Aboulenein; Editing by Maha El Dahan)