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Supervisor
Elham AbolFateh
AR
Thursday 30 March 2017

Business

Dollar equals EGP 16 in new fiscal year budget

Sunday 19/March/2017 - 11:22 PM
Sada El Balad
By Alaa Turki

Minister of Finance Amr Al-Jarhi said on Sunday that the dollar price in the new budget will be 16 pounds for the fiscal year 2017-2018 which will start in July.

Al-Jarhi said in a telephone interview with CBS channel that he is targeting a growth rate of 4.8 percent for the new fiscal year، adding that the budget will be presented to parliament before March 31.

He explained that the growth rate for the current fiscal year 2016 - 2017، which ends in June ranges between 3.8 and 4%.

"The state is targeting the deficit to reach 9.25 percent in the new fiscal year،" Al-Jarhi said.

On the visit of the IMF delegation، Al-Jarhi said it would be after April 25 and that the second tranche of the loan would be received between May and June.

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