The budget deficit rose to 261.8 billion pounds, constituting 10.8 percent of the gross domestic product (GDP), during the period from July to May 2014/2015, the Ministry of Finance said Thursday.

The new figure is compared to EGP 189.4 billion a year earlier, a report released by the ministry said.

In 11 months, the state revenues increased to EGP 350 billion during the same period compared to 337.8 billion pounds a year earlier, it added.

Expenditure soared to EGP 601.4 billion against EGP 519.7 billion, the ministry added.