CAIRO, June 24, 2018 (MENA) - Egypt's budget deficit has reached 258.9 billion pounds during the period from July 2017 to February 2018, the Finance Ministry said in a report on Sunday. This deficit makes up 6.5 per cent of the country's gross domestic product, it noted. Revenues upped to 430.7 billion pounds from 310.5 billion during the same period of the previous fiscal year, the report read. It attributed the increase to a rise in tax revenues from 226.3 billion pounds to 354.1 billion pounds. Non-tax revenues have, meanwhile, dropped from 84.2 billion pounds to 76.5 billion, the report added. The report also pointed to an upturn in total expenditures to 687.9 billion pounds in eight months compared with 532.5 billion during the same period in the previous year.
