May 7, 2019 / 9:56 AM / 2 months ago

Egypt's 9M budget deficit for year to June drops to 5.3 pct of GDP - finance minister

CAIRO, May 7 (Reuters) - Egypt’s budget deficit dipped to 5.3 percent of GDP in the first nine months of the year ending in June, the finance minister said, against 6.2 percent in the same period a year prior.

Egypt’s primary surplus of 35.5 billion Egyptian pounds ($2.07 billion) in the first nine months of the 2018/2019 fiscal year was at 0.7 percent of GDP, Finance Minister Mohamed Maait said. Egypt had a primary deficit of 7 billion pounds, 0.2 percent of GDP, in the same period a year prior, he said. ($1 = 17.1510 Egyptian pounds) (Reporting by Ehab Farouk; Writing by Yousef Saba; Editing by Alison Williams)

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