Egypt’s foreign debts increase to $92.6 billion: Amer

Egypt’s foreign debts rose to 92.6 billion dollars at the end of June up by 17.2 percent compared with the end of June 2017, according to the Central Bank of Egypt report.

The CBE said the net use of loans and facilities increased by 13.2 billion dollars.

External debts service burden reached 13.2 billion dollars during 2017-2018 fiscal year, adding that the ratio of the balance of external debts to GDP amounted to 37 percent, which is still safe according to international standards.

The total domestic public debts reached 3.694 trillion Egyptian pounds (184.9 billion U.S. dollars), 84.4 percent of which is government debts, 8.6 percent for public economic bodies and 7.1 percent for the National Investment Bank, the CBE pointed out.

The net balance of domestic debts owed by the government amounted to 3.120 trillion Egyptian pounds in June, an increase of 434.4 billion Egyptian pounds during 2017/2018.