Debt

Egypt aims to reduce budget debt to 84% of GDP during 2022/23

Mon, 09 May 2022 - 01:27 GMT

The government is working to extend the life of the debt to reach 3.6 years by the end of June 2023 instead of 3.5 years expected by the end of next June and about 1.3 years in June 2013.

Egyptian minister announces number of imprisoned debtors eligible for presidential pardon

Wed, 27 Apr 2022 - 01:21 GMT

The minister noted that the selection was restricted to those who got loans to pay for essentials.

Egypt’s gov't continues its commitment to tight fiscal policy, bringing down the public debt ratio: Capital economics

Thu, 24 Feb 2022 - 05:08 GMT

“Over the past eight years, Egypt’s budget balance has significantly improved with the deficit narrowing from nearly 13 percent of GDP at the end of FY2012/13 to 7.4 percent by the start of FY21/22m” he noted.

Egypt aims to reduce domestic debt rate to less than 90% by next June

Tue, 01 Feb 2022 - 01:11 GMT

Egypt targets to reduce the debt rate to GDP in June 2022 to less than 90 percent, and less than 85 percent during the next three years, down from 108 percent in June 2017.

Egypt aims to reduce debt ratio within 3 years

Mon, 17 Jan 2022 - 09:03 GMT

Madbouly added, in a TV interview, that the debt ratio was 108 percent four years ago, then it decreased to 87 percent before the coronavirus crisis, to reach 91 percent currently.

Debts of Egyptian business sector companies down 77% in 3 years

Sun, 05 Dec 2021 - 04:57 GMT

“The value of the debt was LE 44 billion in 2018, including electricity, petroleum, solidarity and other parties. A settlement has been made with all parties, and only taxes remain,” Tawfik added.

Sisi urges maintaining financial performance to reduce deficit, debt

Mon, 18 Oct 2021 - 07:27 GMT

Egypt’s President Abdel Fattah El-Sisi urged maintaining performance regarding the general budget indicators, leading to achieve an initial surplus of 1.5 percent.

Standard & Poor's warns of risks of cost of Egyptian debt

Mon, 06 Sep 2021 - 01:13 GMT

This comes as Egypt enjoys the highest differential between nominal interest rates and inflation among more than 50 economies followed by Bloomberg, making Egyptian bonds and treasury bills among the preferred instruments among international investors hungry for yield.

Egypt's debt-to-GDP ratio fell to 90.6% during 2020/21

Thu, 29 Jul 2021 - 03:52 GMT

Maait said in a statement that the debt-to-GDP ratio fell to 90.6 percent during the last fiscal year 2020-2021, compared to 108 percent during the 2016-2017 fiscal year.

Egypt's Cabinet publishes figures on economic performance between 2009, 2021

Sat, 10 Jul 2021 - 02:42 GMT

The Media Center of the Cabinet released Saturday the figures.

Egypt records 20% decrease in debt rate within 3 years despite coronavirus

Tue, 25 May 2021 - 02:47 GMT

The Egyptian Minister of Finance Mohamed Maait, confirmed Tuesday, that the reduction of debt is greatly reflected on citizens in improving their daily lives, increasing investments, creating job opportunities and improving the services provided to them at the level of the Republic.

‘We struggled for independence, now we struggle to mitigate COVID-19 impact’: Egypt’s FM in Aswan Forum closing

Fri, 05 Mar 2021 - 04:03 GMT

The recommendations of the forum’s second edition were displayed Friday.

Setbacks in African development endeavors are due to unreliable infrastructure: IMF executive director

Tue, 02 Mar 2021 - 06:32 GMT

In Aswan Forum for Sustainable Peace and Development, Mohieldin warned that 50-60 million Africans are at risk of getting pushed into poverty.

Egypt aims to extend debt life to 3.8 years by end of next June

Thu, 14 Jan 2021 - 04:07 GMT

Maait said in a statement Thursday that debt life expectancy is targeted to reach 3.8 years by the end of June 2021.

Egypt attends ESCWA meeting on 'Debt Swap Initiative for Climate Finance and SDGs in Arab Region'

Wed, 23 Dec 2020 - 01:12 GMT

The official highlighted that debt swap is an effective measure to reduce the debt burden.

Egypt repaid $35 billion in debt despite coronavirus crisis: Central Bank governor

Thu, 10 Sep 2020 - 10:30 GMT

Egypt managed to repay $35 billion in debt despite the economic repercussion of the coronavirus crisis, and provided 5 million jobs over the past five years, said governor of the Central Bank of Egypt (CBE).

Debt installments of small businesses in Egypt to be postponed for 3 months

Mon, 30 Mar 2020 - 02:38 GMT

The duration can be prolonged, if needed.

Kojak: Egypt keen on benefiting from int'l expertise in boosting investments

Tue, 04 Feb 2020 - 02:27 GMT

Kouchouk said Egypt is also working on reducing its debts and budget deficit.

Egypt not facing any problem in paying off debts: CBE

Tue, 01 Oct 2019 - 10:24 GMT

All the dues are being paid back on time, Abulnaga added, noting that the Egyptian economy has become capable of yielding resources that can secure foreign currency.

Plan to settle export incentives debts disclosed

Mon, 05 Aug 2019 - 03:10 GMT

The estimated value of government debts that should be settled with exporters is LE 2 billion.

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