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CORRECTED-Egypt sees deficit at 14-14.5 pct of GDP next fiscal year unless reforms are made
April 28, 2014 / 7:40 AM / in 3 years

CORRECTED-Egypt sees deficit at 14-14.5 pct of GDP next fiscal year unless reforms are made

(Clarifies that 14-14.5 deficit is expected if no reforms were implemented)

CAIRO, April 27 (Reuters) - The Egyptian government sees its budget deficit, if it does not implement reforms, running at 14-14.5 percent of gross domestic product in the fiscal year starting July 1, Finance Minister Hany Dimian said on Sunday.

“The budget deficit, if we do not implement reforms, will be around 340-350 billion Egyptian pounds ($48.60 billion-$50.03 billion), which is around 14 to 14.5 pct of GDP,” Dimian said in an interview with CBC, a local TV station. ($1 = 6.9953 Egyptian pounds) (Reporting by Yasmine Saleh; Writing by Tom Perry; Editing by Sonya Hepinstall)

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