Cairo – Mubasher: The total value of credit facilities provided by banks, excluding the Central Bank of Egypt (CBE), to institutions and non-government organisations rose in August from a month earlier, official data showed.
The sum of these credit facilities grew by EGP 793 million to EGP 1.6219 trillion by the end of August from EGP 1.6211 trillion in July.
Meanwhile, the total value of all facilities amounted to EGP 1,629.664 billion by the end of fiscal year 2017/2018 from EGP 1,426.457 billion in the year-ago period.
Egypt’s public debt grew 17% on a year-on-year basis to EGP 3.695 trillion by the end of June, representing 83.3% of the nation’s gross domestic product (GDP).
Egypt’s external or foreign debt, however, stood at $92.64 billion by the end of June 2018, up 17.2% from the year-ago period.
