Cairo - Mubasher: Egypt’s foreign debt rose by 2.3% in the first quarter of fiscal year 2017/2018, compared to the previous quarter, as shown by the data of the Central Bank of Egypt (CBE).
The $1.8 billion increase in foreign debts rose the total to $80.8 billion by the end of last September, up from $79 billion in June.
New loans and financing facilities contributed $1.3 billion, while another $500 million increase resulted from the movement of foreign exchange rates.
Foreign debt currently stands at 36.2% of Egypt’s GDP.
Egyptian minister of finance Amy El-Garhy said in January that foreign debts reached $81 billion.
