Egypt to submit budget proposals
Egypt is set to submit its draft budget proposals to the Shura Council
The figures confirmed total state expenditure for 2013/14 would be LE692.4 billion ($100 billion), an increase of 18.6 percent from LE583.7 billion ($85 billion)in the current financial year.
Revenues are expected to reach LE497.1 billion ($71 billion), up from LE393.4 billion ($56 billion) in the current year.
The budget deficit is expected to reach LE197 billion or 9.5 percent of GDP, up from the expected 12 percent in the current year.
The planning minister told deputies that economic growth in 2013/14 was expected to be 3.8 percent, compared to 2.5 percent in 2012/13.
The Shura Council, upper house of parliament, has had legislative powers since the lower house was dissolved in June 2012.
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