Cairo-Mubasher: Egypt’s government is aiming to lower its state budget deficit by one point to 9.5-10% for the coming fiscal year, compared with figures for 2015, finance minister Hany Kadry Dimian said on Wednesday.
The country’s budget deficit is seen to be narrowing gradually to around 8-8.5% in the fiscal year 2018/2019, which will help lower public debt to nearly 92% of GDP next year, the minister said.
The government is targeting a decline in state budget debt to 80-85% by 2018/2019, he said.
He added that lowering the budget deficit requires economic growth of not less than 4.5-5% next year, and 6-7% in 2018/2019, coupled with a retreat in unemployment rate by one point to 11.9% in 2015/2016, and then to 10% by 208/2019.
