Egyptian government sets higher ceiling for foreign borrowing in 2018-2019



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Egyptian government sets higher ceiling for foreign borrowing in 2018-2019



Egypt's external debt reached $ 92.64 billion at the end of June, up 17.2% year-on-year.

The Egyptian government has set $ 16.733 billion ceiling on external borrowing for the 2018-2019 fiscal year, according to an official document.

The value of the loans includes external debt repayments of $ 10.510 billion, not including a $ 3.3 billion Kuwaiti deposit maturing in 2018-2019, as well as an annual increase of $ 6.223 billion. the country's external debt, the document said.

According to the document, the measure aims to achieve a total external public debt of $ 98.863 billion for the 2018-2019 fiscal year.

Egypt 's external debt stood at $ 92.64 billion at the end of June, up 17.2% from the previous year, while it' s up. amounted to 79.02 billion dollars at the end of June 2017 and 88.2 billion at the end of March 2018.

Reuters

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