Cairo – Mubasher: Egypt’s external debt is forecast to jump to $102.4 billion by the fiscal year 2020/21, said the International Monetary Fund (IMF) in a report on Wednesday.
Meanwhile, foreign debt over the present fiscal year and the coming one will reach $66 billion and $82.3 billion, respectively, the IMF added.
Thus, foreign debt will stand higher to 25.9% in 2020/21 from 22.9% in 2016/17 of the gross domestic product (GDP), the IMF clarified.
Earlier, the Central Bank of Egypt announced that the external debt rose by 7.8% in the first quarter of 2016/17 to $60.15 billion.
