Egypt’s inflation reaches 2.5 percent in 1Q 2002
Egypt’s year-on-year inflation rate reached 2.5 percent in this past March, unchanged compared to the previous month and up from the 2.4 percent rate registered in March 2001, reported the Republic’s Central Agency for Public Mobilization and Statistics (CAMPAS).
The Egyptian People's Assembly recently approved the budget for the next fiscal year with a deficit of 20.2 billion Egyptian pounds ($4.35 billion). Taking effect in July, the new budget expenditures stand at EP141.6 billion ($30 billion), an 11.7 percent increase compared with the current budget. Revenues in the new budget are expected to reach EP 111.4 billion ($24 billion), up 5.1 percent from this year’s budget. — (menareport.com)
© 2002 Mena Report (www.menareport.com)