Egypt's external debt declines to $154.980B by end Q1 2023

Egypt's external debt declined to $154.980 billion, by the end of the first quarter of the fiscal year 2022/2023, compared to $155.708 billion during the last quarter of the fiscal year 2021/2022.

The Central Bank of Egypt (CBE) revealed that the long-term external debt recorded about $127.572 billion during the first quarter of the fiscal year 2022/2023, compared to $129.089 billion during the last quarter of the fiscal year 2021/2022.

The short-term external debt recorded about $27.408 billion during the first quarter of the 2022/2023 fiscal year, compared to about $26.619 billion during the fourth quarter of the previous fiscal year.

The International Monetary Fund (IMF) had previously predicted a decline in public debt as a percentage of GDP, to record 88.3 percent in 2022/2023, 85.5 percent in 2023/2024, 83.5 percent in 2024/2025, and 81 percent in 2025/2026, and 77.9 percent in 2026/2027.