Egypt's Total Public Debt Reached EGP 3.4 Trillion By End Of 2017: Central BankSource: www.export-egypt.com 6/25/2018, Location: Africa |
|
|
|
Egypt’s total public debt reached EGP 3.4 trillion (approximately $190 billion), representing 83.8% of GDP by the end of December 2017, the Central Bank of Egypt announced .
The rise in the country’s total public debt came due to the breaking up financial services between state apparatuses, according to Al-Ahram Arabic website.. The total public debt announced by the Central Bank of Egypt in its monthly bulletin comes weeks after then-finance minister Amr El-Garhy told MPs that public debt will continue to climb from the current figure.. El-Garhy told the MPs that the country is facing very high debt service rates, after going through a period where the country's workforce was at a standstill, with a growth of 1.5 percent and a rise in population of 2 million people yearly.. According to official statistics from the central bank, the country’s GDP by market prices in fiscal year 2016/17 has reached EGP 3.47 trillion.. According to official statistics from the CBE, the country’s external debt currently stands at $82.9 billion, up from $79.03 billion at the end of last fiscal year.. For the past couple of weeks, parliament has been discussing the country's new state budget for fiscal year 2018/19.. Valued at EGP 1.412 trillion, Egypt’s 2018/19 budget targets a GDP growth of 5.8 percent, up from 5.2 percent in the current fiscal year, a budget deficit of 8.4 percent of GDP, 88 percent public debt, and a 2 percent primary budget surplus, according to statements by the finance ministry in April. |
|
Financials and Investment News in Egypt >> |
Egypt >> 9/19/2024 - Egypt is having a special participation at the IFTM-Top Resa exhibition, which lasts until Sept.19 in Paris.
Egypt’s pavilion has more than... |
Egypt >> 9/18/2024 - On his first visit around the region since his appointment, Jalel Trabelsi, the Special Envoy of the African Development Bank (AfDB), praised Egypt's ...
|
Egypt >> 9/18/2024 - On his first visit around the region since his appointment, Jalel Trabelsi, the Special Envoy of the African Development Bank (AfDB), praised Egypt's ...
|
Egypt >> 9/18/2024 - Benchmark index EGX 30 was up 0.61 percent to 30,342.46 points, with the Shariah index climbing by 0.20 percent to reach 2,879.64 points.
E... |
Egypt >> 9/18/2024 - The British company Globeleq is set to collaborate with the Egyptian government in establishing a substantial project for green hydrogen production, a...
|
Egypt >> 9/18/2024 - Deputy Prime Minister and Minister of Health and Population Khaled Abdel Ghaffar asserted the importance of cooperating with South Africa in the field...
|
Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | |