In a circular it released in preparation for next year’s budget, the Ministry forecasted the
budget deficit to drop to 9.9 percent of GDP in 2011, from an estimated 10.7 percent this year. Inflation, according to the same forecasts, will touch 3.2 percent at the end of 2011.

The Ministry said it expects the GDP to expand to $40 billion in 2011 and total expenditures to drop to 34.2 percent of GDP in 2011 and overall revenues to drop to 24 percent of GDP.

The Ministry also asked all ministries and public administrations to prepare their budgets forecasts for the next three years.