Cairo – Mubasher: The Egyptian finance ministry forecasts fiscal year 2017/2018 budget deficit to reach 9.8% of the gross domestic product (GDP).

Revenues in the last fiscal year budget are expected to hit EGP 989 billion ($55.47 billion), of which Egypt will repay EGP 817 billion in interests and debt installments, finance minister Mohamed Maait said.

The minister has noted that the North African country will announce the chart of its FY 18/19 Eurobond issues and their volumes in the coming period.

Egypt’s fiscal year begins in July and ends on 30 June.