Egypt reports billions of dollars in debt

Egyptian Finance Minister Mohamed Maait expected that by the end of June next year, the state budget’s external debt would rise to $80 billion.

Maite explained during the CEO’s meeting today Sunday that “the debt will certainly be impacted by the exchange rate and that the total external debt owed to the state’s general budget is $79.5 billion and that debt is funded through the state’s general budget.” , and this is not the entire external debt of the state.”

He added: “There is a debt in hard currency, but not to the outside world, and so it is paid in pounds, so the debt is affected by the exchange rate.”

Source: RT

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