Cairo – Mubasher: Egypt is planning to reduce its debt-to-gross domestic product (GDP) ratio to 80% by 2022, finance minister Mohamed Maait stated on Thursday.
The North African country cut the ratio to 108% during the fiscal year 2016/2017 and to 97% a year later, the minister revealed.
Maait added that the targeted debt-to-GDP ratio would capitalise on the achievement of a budget surplus for the first time in 15 years in FY2017/2018.
Egypt’s growth rate went up to 5.5% in the last quarter of the previous fiscal year.
