(Ecofin Agency) - Egypt’s public debt culminated to $339 billion at the end of the 2018 fiscal year, the central bank indicated on May 21, 2019.

During the period under review, the country’s external debt recorded a 16.6% rise to reach $96.61 billion. As for the domestic debt, it rose 20.25% year to year to $242 billion, the same source revealed.

According to the draft budget submitted in April 2019, in the 2019-2020 (July-June) fiscal year, Egypt will borrow EGP820.7 billion, 26% higher than the volume of borrowings in the 2018-2019 fiscal year. During that fiscal year, domestic borrowings should grow by 45% to EGP725.1 billion while external foreign borrowing would decrease by 36% to EGP95.6 billion.