Egypt’s budget deficit in first quarter fiscal year 2018-19 down to 1.9 percent – finance minister


CAIRO (Reuters) – Egypt’s budget deficit for the first quarter of the 2018-2019 fiscal year starting in July was slightly down to 1.9 percent from 2 percent last year, Finance Minister Mohamed Maait said.

Egypt has been looking to tighten control of its finances as it pushes ahead with ambitious economic reforms tied to a $12 billion three-year International Monetary Fund lending programme it agreed in late 2016.

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