Public Management

Egypt’s borrowing requirements estimated at $48 bln for 2019-2020 fiscal year

Egypt’s borrowing requirements estimated at $48 bln for 2019-2020 fiscal year
Tuesday, 23 April 2019 13:58

Egypt’s borrowing requirements are estimated to be EGP820.7 billion ($48 billion) for the 2019-2020 fiscal year, according to the state budget published on April 22, 2019. Compared with the 2018-2019 requirement, this represents a 26% rise.

Domestic borrowings should grow by 45% during the said fiscal year to reach EGP725.1 billion while external loans should drop by 36% to EGP95.6 billion.

Egypt plans to issue about EGP435.1 billion of treasury bonds during the 2019-2020 fiscal year representing a 24% increase compared with the volume estimated in the 2018-2019 budget.

Domestic bonds are to increase by 93% to EGP290.1 billion.

The budget also plans for the issuance of the first green bonds of this North African country whose external debt reached EGP92.64 billion during the 2017-2018 fiscal year.

In 2016, Egypt initiated reforms aimed at reviving its economy affected by turmoils that followed the downfall of president Hosni Mubarak in 2011. In return, it benefited from a $12 billion support program from the IMF.

These reforms such as the devaluation of the local currency, energy subsidies’ cut and the creation of value-added taxes helped revive economic growth while leading to a steep rise in inflation and poverty.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
DRC launches campaign to diversify investors in government securities 98% of bonds now held by banks; aim is to reduce risk and broaden...
Verdant Capital has invested $3 million in Nigerian fintech Bfree to help recover distressed loans in Africa. The deal will allow Bfree to...
Côte d’Ivoire will receive $234 million for a sustainable urban mobility project in Abidjan. Gambia will receive $32.2 million to build...
Stanbic IBTC and Zenith Bank cut monthly card spending abroad to $500 and $200 Foreign reserves fall by $3.5 billion in six...
Most Read
01

• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....

UEMOA: Inflation Drops to 0.6% in May, Driven by Lower Food Prices
02

• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...

Qatar Airways Expands its Network in Africa, Building Presence in Kigali, Johannesburg, and Nairobi
03

• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...

WAEMU Sees Easing Conditions on Regional Interbank Market
04

• EY is preparing to leave Francophone Sub-Saharan Africa by 2026• The exit could unlock $500 m...

EY’s Exit Creates $1bn Opportunity in Francophone Africa Consulting Market
05

As cybersecurity asserts itself as a pillar of digital sovereignty in West Africa, technology-free z...

Cybersecurity Key to Côte d'Ivoire's Tech Future– VITIB's N'ZI
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.