Cairo - Mubasher: Egypt’s foreign debt rose to $92.6 billion by the end of last June, as shown by the most recent data released by the Central Bank of Egypt (CBE)
Foreign debt currently stands at $92.6 billion, increasing by 17.2% or $13.6 billion, compared with the same period last year.
The CBE noted that the increase in debt resulted from higher loans and financing, as well as a rise in foreign currencies exchange rates against the US dollar which accounted for a $0.4 billion increase.
Paid installments in fiscal year 2017/2018 totalled $13.2 billion, with $11.1 billion paid in installments beside $2.1 billion in paid interests.
Debt-to-GDP ratio reached 37%, which remains within the safe limits, as per the international standards, the CBE indicated in its report.
The CBE also said on Thursday that the country’s net international reserves reached $44.5 billion by the end of September 2018.
Data showed on Thursday an increase of $200 million or nearly 0.5% during the first quarter of fiscal year 2018/2019.
