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Domestic public debt jumps to EGP 2.612tr as of end of June: CBE - Daily News Egypt

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Domestic public debt jumps to EGP 2.612tr as of end of June: CBE

The government’s net debt amounted to EGP 2.286tr during FY 2015/2016, an increase of EGP 414.3bn compared to FY 2014/2015


Gross domestic public debt jumped to EGP 2.612tr as of the end of June, compared to EGP 2.116tr at the end of June 2015, an increase of EGP 503.2bn, according to the Central Bank of Egypt (CBE).

According to the CBE’s monthly report issued on Wednesday, 87.3% of the total domestic debt is owed by the government, 4% by public and economic bodies, and 8.7% by the National Investment Bank (NBE).

The government’s net debt amounted to EGP 2.286tr during the 2015/2016 fiscal year (FY), an increase of EGP 414.3bn compared to FY 2014/2015.

Economic authorities’ net debt amounted to EGP 103.7bn, an increase of EGP 92.3bn.

The debt of the NBE reached EGP 230.2bn, a decrease of EGP 3.4bn, according to the CBE.

The CBE disclosed earlier this month that Egypt’s total external debt increased by about $7.7bn in FY 2015/2016, recording $55.8bn compared to $48.1bn in FY 2014/2015.

The CBE said in Wednesday’s report that the external debt service ratio amounted to about $5.2bn in last FY, of which $4.3bn has been paid in instalments and $900m in benefits.

According to the CBE, the ratio of external debt to gross domestic product (GDP) recorded about 17.6% at the end of June 2016, compared to 14.8% at the end of June 2015.

 

https://www.dailynewsegypt.com/2016/10/26/domestic-public-debt-jumps-egp-2-612tr-end-june-cbe/
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