Gov’t revises deficit target up to 10.25% for the current fiscal year

Finance ministry revises budget deficit target for current FY: The budget deficit for the state’s current fiscal year will close in the 10-10.25% range against an initial estimate of 9.8% of GDP, Reuters’ Arabic service quotes Finance Minister Amr El Garhy as saying. El Garhy says Egypt remains on track to bring the deficit down from the 12.2% recorded in FY2015-16.