Bloomberg News

Egypt to Announce $3.3 Billion Cuts, Al Masry Says

December 15, 2011

(Corrects to add missing word in headline)

Dec. 15 (Bloomberg) -- The Egyptian government will announce a plan to cut expenditure by 20 billion pounds ($3.3 billion) within days to reduce the budget deficit, Al Masry Al Youm reported, citing an unidentified official.

The cuts won’t affect health care, education and pensions, the Cairo-based newspaper cited the official as saying.

--Editor: Inal Ersan

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

To contact the editor responsible for this story: Inal Ersan at iersan@bloomberg.net


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