CAIRO, May 14 (KUNA) -- Egyptian Minister of Finance Momtaz Al-Said said here Monday spending in the 2012-13 draft state budget was estimated at roughly 537.7 billion Egyptian pounds.

A US dollar is equal almost six Egyptian pounds.

The figure in the revised state budget for the fiscal year ending late June 2012 was 476 billion pounds, the minister told a news conference.

The targeted revenues of the new budget amount to 292.4 billion against 349.

6 billion pounds in the current budget, he said.

The minister estimated the overall deficit size in the new budget at 140 billion pounds, making up 7.9 percent of the gross domestic product (GDP).

Of the figure, 28.8 billion pounds are to go to commodities and services compared to 30.2 billion in the current budget, he pointed out.

The revenues include diverse types of taxes and customs worth a total of 267 billion, he said.