Egypt in $283 billion worth of public debt

The rate of the Egyptian debt compared to the GDP increased from 89.5 per cent in 2012 to 104 per cent today.

Egypt in $283 billion worth of public debt

World Bulletin / News Desk

It has been revealed that Egypt's total public debt has reached $283 billion at the end of the fiscal year on June 30, the Central Agency for Public Mobilisation and Statistics revealed.

The debt, which includes $45.3 billion dollars in foreign debt at the end of March, had increased by about 18 per cent in the past year, the agency revealed.

According to Middle-East Monitor, this means that the total Egyptian debt exceeds the country's GDP, which reached $272 billion during the last fiscal year.

This means that the rate of the Egyptian debt compared to the GDP increased from 89.5 per cent in 2012 to 104 per cent today.

Meanwhile, the Egyptian Ministry of Finance confirmed that the interest incurred during the first 10 months of the last fiscal year grew by over 20 per cent, reaching over $31 billion, Middle-East Monitor reported.

Last Mod: 11 Eylül 2014, 14:46
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