Egypt Revenues Go up by LE 35 Billion

The volume of Egypt's revenues rose by LE 35 billion reaching LE 303.6 billion of the Fiscal Year 2011/2012 with 14 per cent growth rate, according to the Finance Ministry's report. The tax revenues went up by LE 37 billion reaching LE 207.4 billion with 21.7 per cent growth rate, the volume of sales tax revenues rose by LE 17.49 billion reaching LE 84.59 billion and the customs revenues were up by LE 86 million reaching LE 14.7 billion, said the report. The report underscored that the volume of the state expenditure rose by LE 114, 6 billion reaching LE 516.4 billion that led to an increase in state budget deficit from 9.8 per cent to 10.8 per cent of the gross domestic product in 2012.