{"id":627449,"date":"2018-06-03T04:03:28","date_gmt":"2018-06-03T04:03:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/03\/finmin-ups-budget-deficit-figure-for-fy2017-18-to-10-2-from-9-8\/"},"modified":"2018-06-03T04:03:28","modified_gmt":"2018-06-03T04:03:28","slug":"finmin-ups-budget-deficit-figure-for-fy2017-18-to-10-2-from-9-8","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/03\/finmin-ups-budget-deficit-figure-for-fy2017-18-to-10-2-from-9-8\/","title":{"rendered":"FinMin ups budget deficit figure for FY2017-18 to 10.2% from 9.8%"},"content":{"rendered":"

EXCLUSIVE- Expect the FY2017-18 budget to target a deficit of 10.2%, up from the 9.8% initially forecast:<\/strong> The Finance Ministry will reportedly hike its projected budget deficit to 10.2% for the current FY2017-18 from an initial target of 9.8%, government sources tell Enterprise. This is still an improvement over the previous fiscal year\u2019s deficit of 10.9%, those sources made sure to note. The amendment comes after the Ismail Cabinet approved an EGP 70 bn overdraft for the FY2017-18 state budget last week<\/a> to cover \u201cnecessary expenditures.\u201d<\/p>\n

It was mostly debt service and some oil. <\/strong>None of this comes as a surprise: The overrun was largely due to rising debt service costs and higher oil prices. Egypt has reportedly been importing fuel at USD 75\/bbl, up from an estimated USD 55\/bbl in the budget.<\/p>\n

IMF is not worried:<\/strong> The IMF is not causing a stir over the issue. \u201cThe IMF is understanding and is taking into consideration the changing global macro climate, so long as the economic reform program presses along,\u201d one source close to cabinet said.<\/p>\n","protected":false},"excerpt":{"rendered":"

EXCLUSIVE- Expect the FY2017-18 budget to target a deficit of 10.2%, up from the 9.8% initially forecast: The Finance Ministry will reportedly hike its projected budget deficit to 10.2% for the current FY2017-18 from an initial target of 9.8%, government sources tell Enterprise. This is still an improvement over the previous fiscal year\u2019s deficit of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-627449","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"04d7b3b1-447b-4ea8-81fc-f0e94a85eafa","order":"0","is_powered_by":true,"section_story_id":"6e896c70-cd9d-44a7-ba50-822f5109a9e4","story_type":"1","photo_url":"","photo_position":"above","related_issue":[627431],"teaser":"","voice_url":""},"yoast_head":"\nFinMin ups budget deficit figure for FY2017-18 to 10.2% from 9.8% - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/03\/finmin-ups-budget-deficit-figure-for-fy2017-18-to-10-2-from-9-8\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FinMin ups budget deficit figure for FY2017-18 to 10.2% from 9.8%\" \/>\n<meta property=\"og:description\" content=\"EXCLUSIVE- Expect the FY2017-18 budget to target a deficit of 10.2%, up from the 9.8% initially forecast: The Finance Ministry will reportedly hike its projected budget deficit to 10.2% for the current FY2017-18 from an initial target of 9.8%, government sources tell Enterprise. This is still an improvement over the previous fiscal year\u2019s deficit of […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/03\/finmin-ups-budget-deficit-figure-for-fy2017-18-to-10-2-from-9-8\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-03T04:03:28+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/03\/finmin-ups-budget-deficit-figure-for-fy2017-18-to-10-2-from-9-8\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/03\/finmin-ups-budget-deficit-figure-for-fy2017-18-to-10-2-from-9-8\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"FinMin ups budget deficit figure for FY2017-18 to 10.2% from 9.8%\",\"datePublished\":\"2018-06-03T04:03:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/03\/finmin-ups-budget-deficit-figure-for-fy2017-18-to-10-2-from-9-8\/\"},\"wordCount\":184,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/03\/finmin-ups-budget-deficit-figure-for-fy2017-18-to-10-2-from-9-8\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/03\/finmin-ups-budget-deficit-figure-for-fy2017-18-to-10-2-from-9-8\/\",\"name\":\"FinMin ups budget deficit figure for FY2017-18 to 10.2% from 9.8% - 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The Finance Ministry had announced on Thursday that the budget\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637173,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/09\/egypt-reassures-imf-it-can-achieve-budget-surplus-reduce-government-debt-in-fy2017-18\/","url_meta":{"origin":627449,"position":4},"title":"Egypt reassures IMF it can achieve budget surplus, reduce government debt in FY2017-18","author":"enterpriseam admin","date":"9 November 2017","format":false,"excerpt":"Egypt is confident it can achieve a primary budget surplus for the first time years in FY2017-18 and is working to reduce government debt to 98% of GDP, Vice Minister of Finance Ahmed Kouchouk told the IMF delegation in town reviewing progress on the economic reform agenda. Positive indicators from\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":629410,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/","url_meta":{"origin":627449,"position":5},"title":"Is gov\u2019t hinting fuel prices could rise more than previously expected?","author":"enterpriseam admin","date":"30 May 2018","format":false,"excerpt":"Is gov\u2019t hinting fuel prices could rise more than previously expected? The Ismail Cabinet has reportedly been importing fuel at a price of USD 75\/bbl, according to documents, which state-owned Ahram Online claims to have obtained. 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