Egypt’s budget deficit in first half FY 2017-18 down to 4.4 pct

CAIRO (Reuters) – Egypt’s budget deficit for the first half of the 2017-2018 fiscal year starting in July dropped to 4.4 percent from 5 percent last year, a finance ministry statement said on Sunday.

Egypt has been looking to tighten control of its finances as it pushes ahead with ambitious economic reforms tied to a $12 billion three-year International Monetary Fund lending programme it agreed in late 2016.

Reporting by Ehab Farouk; Writing by Eric Knecht; Editing by Louise Heavens

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