Egypt's government debt-to-GDP ratio inches up in Q1 2024

Amr Abdallah Dalsh

In contrast, household debt fell

Staff Writer, Arab Finance

May 9, 2024

PHOTO

Egypt's government debt to gross domestic product (GDP) ratio rose marginally to 81.4% in the first quarter (Q1) of 2024 from 80.5% in Q1 2023, Asharq Business reported on May 8th, citing data from Institute of International Finance (IIF).

In contrast, household debt fell, accounting for 7.6% of GDP in the first three months of 2024, versus 8.5% in the same quarter last year.

Moreover, debt within the financial sector has expanded to 6.1% of GDP, compared to 5.4% in Q1 2023.

Meanwhile, debt of the non-financial companies declined from 21.6% to 19.1% of GDP.

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