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"Very possible" Egypt will ask for bigger IMF loan -minister
April 10, 2013 / 7:11 AM / in 5 years

"Very possible" Egypt will ask for bigger IMF loan -minister

CAIRO, April 10 (Reuters) - Egypt might ask the International Monetary Fund (IMF) to increase its previously requested $4.8 billion loan to cover its budget deficit, the country’s planning minister said on Wednesday.

“It’s very possible that we will increase the request but so far we are talking about $4.8 billion,” Ashraf El-Araby told reporters during a visit to Qatar.

He also said the government had targeted a budget deficit of 9.5 percent of gross domestic product in the fiscal year ending in June.

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