Egypt's foreign debt rises to $92.64 bln at end-June, PM tells paper

Egypt’s foreign debt rose to $92.64 billion at the close of the financial year in June, up from $88.2 billion at end-March, Prime Minister Mostafa Madbouly told the Egyptian daily al-Watan.

The debt made up 37.2 percent of the country’s GDP at the end of the 2017-2018 fiscal year, Madbouly told the newspaper in an interview published on Sunday, marking a slight increase from 36.8 percent at the end of the third quarter.

Egypt’s fiscal year begins in July and ends in June.

The country’s foreign reserves stood at $44.2 billion at the end of June, and climbed to $44.4 billion by end-August.

Egypt Today Contribution Time: 10-Sep-2018 10:38 (GMT)
Egypt Today Last Update Time: 10-Sep-2018 10:38 (GMT)