Cairo: A report issued by the Central Bank of Egypt showed an increase in the budget deficit from July to September of the current fiscal year 2010/2011, which amounted to $6.6 billion compared to $6.3 billion during the same period of the previous fiscal year. The increase is a result of higher payments for imported of goods at a rate of 9.3%, reaching $12.7 billion; decreasing commodity exports, which fell by 13.2%, reaching $6.1 billion; increase in oil imports by 14.3% and non-oil rate of 8.2%; and a rise in oil exports by 15.1% and non-oil by 11.7%, which contributed to the rise in commodity exports. The report pointed to a decrease in surplus of the balance of the service by a rate of 20.6% to about $2.6 billion during the same period of the current fiscal year, compared to $3.3 billion during the same period of the previous fiscal year. Receipts of transport rose by 17.9%, to increase tolls in the Suez Canal by a rate of 13.3% to about $1.3 billion compared to $1.1 billion during the same period of the previous fiscal year. The report noted that tourism revenues rose by $3.7 billion, compared to $3.2 billion last year, because of the high number of tourist nights, about 43 million nights. The receipts investment income declined by 68.2% to $820 million in 2010/2011, compared to $258.2 million dollars during the same period last year. Also, investment proceeds transferred to the outside increased from $972.3 million to $1.9 billion. BM
