Data released by the Egyptian Ministry of Planning showed that the country's external debt rose by $ 3.5 billion in the last quarter of 2023 to $ 168 billion.
The CBE revealed that Egypt's total foreign debt reached $ 164.5 billion at the end of September, or 42.4 percent of GDP. Long-term debt accounts for about 81.6 percent of Egypt's total debt.
Egypt's external debt has quadrupled over the past ten years, coinciding with state spending on government projects. Last month, Egypt received an eight-billion-dollar financial support package from the International Monetary Fund.
Source (CNBC Arabia Website, Edited)
