Egypt’s external debt increases $7.9bln to $162.9bln in 2Q 2022/23: CBE

PHOTO
An employee counts Egyptian pounds in a foreign exchange office in central Cairo, Egypt, November 3, 2016. Image used for illustrative purpose.

The Central Bank of Egypt has revealed that the North African nation’s external debt increased by $7.94bn, to record $162.927bn in December 2022, (second quarter of fiscal year 2022/23) compared to $154.980bn in September 2022.

The report added that long-term debts amounted to $132.681bn, while short-term debts amounted to $30.246bn.

The government’s foreign debt recorded $82.696bb in December 2022, compared to $80.340bn in September 2022.

Last December, government foreign debts were distributed at $82.696bn in the category of long-term debts, while no debts owed by the government appeared in the short term.

With regard to indebtedness balances with the Central Bank, they recorded $42.299bn in December 2022, compared to $41.145bn in September 2022.

Debt balances on banks amounted to $19.310bn, compared to $18.297bn in September.