CitiBank expects Egypt’s fiscal deficit to remain in double digits

June 4, 2014 2:14 am

Citibank has said Egypt’s fiscal deficit is set to “remain firmly in double digits” with inflation easing in 2014, Daily News Egypt has reported. “The fiscal deficit rose to 11.2% of GDP in 2012 and provisional data for H1 2013 show that there could be a worse outcome this year,” the report said. “Even if a slow pick-up in growth is possible in 2014, we still think that a new government will have to think more comprehensively about economic policy at some point.”