No Plan to Amend Egyptian Economic Reform Program

Minister of Finance Fayyad Abdel Moneim ruled out any plan to amend the economic reform program, noting that the basic and sole condition set by the International Monetary Fund is reducing the State's budget deficit in the new fiscal year.

The draft budget was submitted to the Shura Council for endorsement already targets reducing the budget deficit to 9.5 percent through a host of policies designed to increase investments, rationalize expenditure and reduce subsidy of oil products, along with introducing some proposed amendments to the tax law, according to the finance minister.