Cairo – Mubasher: Egypt’s external debt increased by 17.47% year-on-year to $109.363 billion at the end of September 2019, according to data released by the World Bank.
The North African country’s external debt included $58.86 billion owed by the government, $9.2 billion owed by banks, and $13.6 billion owed by other sectors.
External debt owed by the Egyptian government went up by 2.7% during the three-month period ended 30 September 2019, compared to $57.3 billion in the year-ago period.
Long-term debt accounted for 89.9% of Egypt’s total external debt by the end of September, whereas short-term debt made up only 10.01%.
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