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Egypt’s budget deficit narrowed in H1

February 4, 2014 12:32 am

Egypt’s finance ministry has said the country’s budget deficit reached EGP89.4bn ($12.84bn) or 4.4% of economic output in the first half of this fiscal year, less than in same period a year before, Reuters has reported. The deficit narrowed from EGP91.472bn in the first half of the last fiscal year, which ended in June. That was the equivalent of 5.1% of gross domestic product.