CAIRO | Wed Aug 28, 2013 3:59pm BST
CAIRO (Reuters) - Egypt's cabinet approved on Wednesday an additional 22.3 billion Egyptian pounds ($3.19 billion) in investment projects to boost the economy over the coming 10 months, Deputy Prime Minister Ziad Bahaa el-Din said.
Despite the new spending, the government aims to reduce the budget deficit to 9 percent of gross domestic product in the fiscal year to end-June 2014 from 14 percent last year, Finance Minister Ahmed Galal said.
This it would do by streamlining spending, especially on energy subsidies, Galal said.
The two ministers were speaking to reporters after a cabinet meeting.
(Reporting by Patrick Werr; Editing by John Stonestreet)
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