Egypt debt to fall below 90% of GDP by end of June – minister

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Updated: Feb 2, 2022, 12:38 GMT+00:00

CAIRO (Reuters) - Egypt's debt should fall below 90% of gross domestic product by the end of the fiscal year on June 30, Finance Minister Mohamed Maiit told a news conference on Wednesday in Cairo, exceeding the government's prior expectations.

A general view of banks, hotels, office and residential buildings in the center of Cairo

CAIRO (Reuters) – Egypt’s debt should fall below 90% of gross domestic product by the end of the fiscal year on June 30, Finance Minister Mohamed Maiit told a news conference on Wednesday in Cairo, exceeding the government’s prior expectations.

The country’s total export revenue reached a record high of $45.2 billion in 2021, Prime Minister Mostafa Madbouly told the conference.

(Reporting by Lina Najem and Nadine Awadalla, Writing by Maher Chmaytelli; Editing by Jon Boyle)

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