Egypt budget deficit for FY 2014/2015 drops to 11,5%

EGYPT’S budget deficit dropped to 11,5% of gross domestic product in fiscal year 2014/2015 versus 12,2% during the same period last year, the finance ministry said in a statement on Monday.

“The final account shows a noticeable improvement in the government’s financial performance as the total deficit in the budget declined to 11,5% of GDP versus 12,2% for the 2013 fiscal year,” the statement said.-Reuters