Egypt’s gross domestic debt rose to LE1.84 trillion in September 2014 from LE1.82 trillion in June, according to data posted by the Central Bank of Egypt (CBE) on Monday.
According to CBE's December 2014 Statistical Bulletin, the net balance of government debt totaled about LE1,614.8 billion at end of September 2014, an increase of LE76.3 billion during July/September 2014/2015. The net debt of public economic authorities reached LE0.9 billion, a decrease of LE57.4 billion.
National Investment Bank (NIB) debt reached LE222.9 billion, an increase of LE 3.1 billion, which represents NIB net debt minus its intra-debt with the economic authorities, as well as its investments in government securities (bills and bonds), CBE explained.
Meanwhile, according to the new budget for the 2014/15 financial year, total government debt (domestic and international) will reach a sum of LE2.2 trillion at the end of the 2014/15 fiscal year (about 91.5 percent of GDP, a 2.3 percent decrease from 93.8 percent of the GDP in the 2012/13 fiscal year).
