Egypt - Mubasher: Egypt’s total domestic public debt increased 5.1% month-on-month in September, data by the Central Bank of Egypt (CBE) showed on Tuesday.
Domestic debt stood at EGP 3.887 trillion at the end of September 2018, accounting for 74% of the country’s gross domestic product (GDP), versus EGP 3.695 trillion last June, according to the CBE’s monthly bulletin.
Meanwhile, domestic debt owed to the government amounted to EGP 3.29 trillion last September, while net indebtedness of public economic authorities reached EGP 330.3 billion, the CBE added.
In January, finance minister Mohamed Maait stated that Egypt was seeking to achieve an economic growth rate of 6% in fiscal year 2019/2020.
The most populous Arab country aims to cut its public debt to 93% in FY18/19, Maait previously added.
