September 3, 2019 / 5:29 PM / 18 days ago

Egypt sees 7.2% budget deficit, higher primary surplus in FY 2019/20

CAIRO, Sept 3 (Reuters) - Egypt is targeting a budget deficit of 7.2% this fiscal year, and a deficit of 6.2% in the 2020/21 fiscal year, the finance minister said on Tuesday.

The country is targeting a primary surplus of 124 billion Egyptian pounds ($7.51 billion) in the 2019/20 fiscal year, up from 104 billion pounds last fiscal year, Finance Minister Mohamed Maait said at a business conference in Cairo.

Reporting by Mohamed Sayed; Writing by Yousef Saba, Editing by William Maclean

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