CAIRO, June 24 (Reuters) - Egypt’s finance minister said on Tuesday he expects the new budget deficit to stand at 10 pct in the coming fiscal year that starts on July 1, down from around 12 percent this year.
President Abdel Fattah al-Sisi had earlier said he rejected the government’s proposal for the coming year’s financial budget, asking for a lower deficit and debts.
Finance Minister Hani Kadry was speaking to Egypt’s CBC TV. His ministry issued a statement later saying it would revise the budget on Wednesday and re-send it to Sisi. (Reporting by Yasmine Saleh; Editing by Sonya Hepinstall)