Egypt's parliament approves 2017/18 budget, targets 4.6 percent economic growth

Egypt's House of Representatives approved on Tuesday the state budget for the 2017/18 fiscal year, which started on 1 July, Al-Ahram Arabic news website reported.

The Egyptian government is targeting 4.6 percent in economic growth in 2017/2018, compared to the 3.8 percent growth in 2016/17.

Egypt is also targeting a 9.1 percent deficit for 2017/2018, although estimates predict a deficit of 10.8 percent.

The government is also targeting EGP 818 billion in revenue in 2017/18, compared to EGP 644 billion in revenue in 2016/17.

The expected expenses in the 2017/18 budget are EGP 1.2 trillion, compared to the EGP 994 billion in the 2016/17 budget.