Egypt's external debt rose 11.8% in Q2 2012/13: CBE

Ahram Online, Thursday 18 Apr 2013

Country's external debt hits $38.8 billion during October-December period of 2012/13 fiscal year

Central Bank of Egypt (Photo: Reuters)


Egypt's external debt rose by 11.8 percent in the second quarter of the 2012/13 fiscal year, recording $38.8 billion compared to the previous quarter, according to the latest bulletin from the Central Bank of Egypt (CBE).

External debt during the October-December period of the 2011/12 fiscal year stood at $33.6 billion, the CBE reported.

Accordingly, Egypt's total domestic debt rose to LE138 billion during the second quarter of 2012/13, compared to LE133.1 billion the previous quarter.

Egypt's total domestic debt stood at LE113.2 billion in the second quarter of the 2011/12 fiscal year.

Foreign direct investments (FDI), meanwhile, rose by a whopping 78.8 percent quarter-on-quarter to record $193.3 million in the October-December period of 2012/13.

According to the CBE, total implemental investments inside the country during the first six months of the 2012/13 fiscal year were worth some LE114.3 billion, representing a 2.2 percent increase on the corresponding period the previous fiscal year.

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