Minister: Very possible Egypt will ask for bigger IMF loan

April 10, 2013 10:04

CAIRO - Egypt might ask the International Monetary Fund (IMF) to increase its previously requested $4.8 billion loan to cover its budget deficit, the country's planning minister said on Wednesday.

"It's very possible that we will increase the request but so far we are talking about $4.8 billion," Ashraf El-Araby told reporters during a visit to Qatar.

He also said the government had targeted a budget deficit of 9.5 percent of gross domestic product in the fiscal year ending in June.

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