Egypt reports 2.2% GDP growth in Q2

Egypt: Egyptian finance ministry has said the second quarter of 2013 saw a 2.2% growth of the country’s gross domestic product (GDP), Daily News Egypt has reported. The increase, however, was less than the first quarter, which saw an increase of 2.4% of the GDP, the ministry said. “Between May and July 2013, the budget deficit rose to 11.8% to reach EGP204.9bn, compared with EGP136.5bn during the same period last year,” it said. “In addition, it is expected that the budget deficit reaches 9.1% as a percentage of GDP during the fiscal year budget 2014/2013, to become approximately EGP186bn,” the ministry said in its report. []

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