Although Egypt's budget deficit is far above the level found in other low-middle-income countries, the inflation rate in Egypt has never been very high. This is because the country has managed to finance these budget deficits by resorting to an inflation tax that, at 11 percent of GDP in 1987, constitutes a large share of total tax revenues. By contrast, conventional tax revenues come to only 17 percent of GDP. The authors report a large, underlying...
انظر المزيد
تفاصيل
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1991/5/31
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ورقة عمل خاصة ببحوث السياسات
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WPS668
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1
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1
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2010/7/01
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Inflation tax and deficit financing in Egypt
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inflation tax