Egypt's total government debt (domestic and external) increased by 15.9 percent to LE 1.995 trillion about 86 percent of GDP at the end of September 2014, compared to LE1,721 billion, or 86.2 percent of GDP, at the end of September 2013, the Finance Ministry said in a new report on Wednesday.
The report pointed out that the domestic budget sector debt increased by 18.2 percent recorded LE1,795.8 billion (77.4 percent of GDP) by end of September 2014, compared to LE1,518.7 billion (76 percent of GDP) by the end of September 2013, mainly due to government's borrowing in treasury bills.
Meanwhile, external debt declined by 4.5 percent, recording US$44.9 billion at the end of September 2014 compared to $47 billion at end of September 2013.
Egypt has returned a total of $3 billion in deposits ($2 billion was cancelled and $1 billion was matured), the report explained.
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.
