External debt fell by $111 million in Q2024 XNUMX

Egypt's external debt fell by $111 million in the fourth quarter of 2024, reaching $155.09 billion by the end of the year, Saudi-owned pan-Arab broadcaster Al Arabiya said, citing official data.

“Egypt has a vision for a cap on foreign borrowing, and the bond issuance aims to extend the maturity of the debt. This has brought the foreign debt as a percentage of GDP back to safe levels, and it is aimed at reducing it by between $1.5 billion and $2 billion per year,” the Egyptian prime minister said.