Egypt's President Abdel Fattah El-Sisi on Thursdayratifiedthe state budget for the fiscal year 2015/16, according to Egyptian state TV. The cabineton Wednesday approved the draft budget for the 2015/16 fiscal year, to slash the projected deficit to 8.9 percent of GDP, according to a statement issued by the ministry of finance on Wednesday. Projected public expenditure is set to rise 17 percent from the previous year to LE868 billion, while revenues are expected to reach LE622 billion, a 28 percent increase on 2014/2015. More to follow ... http://english.ahram.org.eg/News/134390.aspx