Egypt to submit budget proposals
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.
- Explain this, Mr. Erdogan: income of Turkey's richest 7.7 times that of poorest
- When it comes to business, introducing yourself is an art
- Why India is likely to re-emerge as the UAE's top trade partner
- What's really attracting high net worth individuals to living in the UAE?
- Forbes Middle East reveals names region's 200 most powerful women