Egypt targets budget deficit of 8.4 percent, GDP growth of 5.8 percent in 2018/19: PM

CAIRO (Reuters) – Egypt’s government approved its 2018/19 fiscal year budget on Sunday, targeting a budget deficit of 8.4 percent of GDP, Prime Minister Sherif Ismail said.

A statement from the cabinet said the budget would target GDP growth of 5.8 percent.

Egypt’s fiscal year begins in July.

(This version of the story was corrected to change GDP growth from 5.2 to 5.8 percent)

(Reporting by Momen Abdelkhalek; Editing by Catherine Evans)