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Egypt tax revenue jumps 6% as economy surges

20 July 2010

Egyptian finance minister, Youssef Boutros-Ghali has said an unexpected surge in economic activity had contributed to a 6% rise in tax revenue in the fiscal year to June 30, Reuters has reported. Tax revenue in fiscal 2009/10 reached EGP148bn ($26bn), EGP12bn more than budgeted, he said. "Because of our reforms, taxes have begun to respond directly to the country's economic activity. The more activity, the more revenue," he added.

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