Egypt budget deficit expected to widen in 2013

The projections come amid concerns about a Greek-style debt crisis in Egypt. Credit: Reuters

Egypt's budget deficit in the year to end-June 2013 is expected to widen to 200 billion Egyptian pounds ($31.5 billion or £20 billion), from a 166.7 billion pound deficit in 2011/12, the state news agency quoted Planning Minister Ashraf al-Araby as saying.

Egypt's budget, released in July, had forecast a 2012/13 deficit of 135 billion Egyptian pounds.