Business

Egypt says April-June budget deficit US$4.99 billion

Egypt's budget deficit fell to 29.8 billion Egyptian pounds (US$4.99 billion) in the April to June quarter from 31.6 billion pounds in the previous quarter, the Planning Ministry said on Thursday.

Egypt's tourism revenue in the year to end-June was US$10.6 billion, the ministry said in a statement.

Egypt's economy had been growing strongly before an uprising erupted in January and toppled President Hosni Mubarak on Feb. 11, sending investors and tourists packing. But economists say economic activity has been improving since then.

(US$1 = 5.976 Egyptian Pounds) 

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