Egyptian budget spending reaches 34.9 billion the first six months

The total expenditures from the Egyptian budget during the first six months of the fiscal year 1998/99 amounted to 34.9 billion pounds, 49.9% of the total that is estimated to be expended during the whole fiscal year and an increase of 6.1% compared to the same period of the previous year, an Egyptian Cabinet publication said today

Meanwhile, the publication related this rise to an increase in wages by 13.8% and other current expenditures by 4.6%, adding that the increase extended to all items of the budget, except the interests of the public foreign debts that fell by 23.2%.

The magazine added that the current surplus achieved during the first 6 months of the fiscal year 98/99 reached one billion L.E, a reduction of 1.7 billion L.E compared to the same period of last year.