|17 July, 2019

Egypt debt to GDP ratio down to 90.5% in fiscal year 2018/19 - PM

The ratio of Egypt's debt to GDP has declined to 90.5% in the 2018/19 fiscal year, from 108% the year before

Image used for illustrative purpose. A bank employee counts stacks of Egyptian 5 pound and 50 piastre notes as he works at Bank Misr in downtown Cairo, Egypt, June 8, 2016.

Image used for illustrative purpose. A bank employee counts stacks of Egyptian 5 pound and 50 piastre notes as he works at Bank Misr in downtown Cairo, Egypt, June 8, 2016.

REUTERS/Amr Abdallah Dalsh

CAIRO- The ratio of Egypt's debt to GDP has declined to 90.5% in the 2018/19 fiscal year, from 108% the year before, Prime Minister Mostafa Madbouly said on Wednesday.

He said the targeted debt to GDP ratio for the current fiscal year was 82%.

(Reporting by Yousef Saba, writing by Sami Aboudi) ((Sami.Aboudi@thomsonreuters.com; +20223948181;))

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