Egypt's budget deficit narrowed to 2.4% of GDP to EGP76.816bn (USD4.47bn) in 1Q16/17 from 2.8% of GDP in the same period a year earlier, official sources said. The government debt interest has reached cEGP57.189bn in 1Q16/17, up from EGP50.704bn in 1Q15/16. Subsidies, grants and social benefits costs fell to EGP32.094bn from EGP37.942bn a year earlier. (Reuters)
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