Ghali: government to take serious decisions to address budget deficit

Egypt's Minister of Finance Youssef Boutros Ghali said that the budget deficit is not a source of concern to the government.

On the contrary it is indicative of a healthy economy as long as the Egyptian economy scores a 5 % rate of growth.

But the government will soon take some decisions to address this deficit in new scientific and management methods and create new mechanisms in dealing among the country's economic powers represented in the customs and taxes authorities, labour market and production in a bid to achieve a tangible improvement in the facilities rendered to investors and tax payers as well as increasing rate of exports.

Ghali who made these remarks in a meeting Thursday with members of Alexandria Chamber of Commerce with Governor Abdul Salam Al Mahgoub attending, promised that the new customs and taxes draft law will be finished soon.

It aims at scoring flexible treatment with investors, tax payers and merchants.