Cairo - Mubasher: Pharos Research expects Egypt's net debt to decrease from 110.8% of the country’s gross domestic product (GDP) to 87.4% by fiscal year 2019/2020.
The improvement in debt to GDP ratio is forecast to result from the macroeconomic reforms, as well as the new fiscal and monetary policies.
The Central Bank of Egypt (CBE) recently revealed that Egypt's foreign debt increased by around $23.2 billion year-on-year in FY16/17.
