Egypt Deficit Widens As Spending On Salaries, Interest Payments Soars

Egypt’s budget deficit leapt by 27% to EGP237bn for the first half of the 2019-20 financial year (ie the second half of 2019).

In dollar terms the deficit was up 39% to $14.5bn as the Egyptian currency continued its unlikely recent gains against the greenback (see table). (CONTINUED - 671 WORDS)