Egypt’s foreign debt hits $81bn - Minister

Cairo – Mubasher: Egypt’s foreign debt stood at $81 billion, finance minister Amr El-Garhy said in an interview on Ten TV.

The government will follow a new strategy regarding debts for the coming fiscal year, El-Garhy added.

On 3 January, the Central Bank of Egypt (CBE) posted that Egypt’s foreign reserves edged up 0.7% month-on-month to $37.019 billion in December 2017 from $36.723 billion in November.

On 30 September 2017, the CBE said that the country’s foreign debt surged by 41.6% or $23.2 billion year-on-year to register $79 billion in 2016/2017, against $55.8 billion in FY15/16.

Mubasher Contribution Time: 11-Jan-2018 10:49 (GMT)

Mubasher Last Update Time: 11-Jan-2018 11:20 (GMT)

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