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|18 March, 2018

Egypt targets budget deficit of 8.4%

A statement from the cabinet said the budget would target GDP growth of 5.8 percent

An employee counts money at an exchange office in downtown Cairo June 5.

An employee counts money at an exchange office in downtown Cairo June 5.

REUTERS/Amr Abdallah Dalsh

CAIRO: Egypt's government approved its 2018/19 fiscal year budget on Sunday, targeting a budget deficit of 8.4 percent of GDP, Prime Minister Sherif Ismail said.

A statement from the cabinet said the budget would target GDP growth of 5.8 percent.

Egypt's fiscal year begins in July.

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(Reporting by Momen Abdelkhalek Editing by Catherine Evans) ((arwa.gaballa@thomsonreuters.com; +20 2 2578 3290;))