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Daily News Egypt: CBE reveals Egypt’s economy external position

Foreign debt reached 35.1% of GDP at end December 2018, compared to 61.4% of GDP in European coutnries, EMs, and 41.9% in Commonwealth countries.
04.08.19 | Interesting article at Daily News Egypt

The Central Bank of Egypt (CBE) issued the External Position of the Egyptian Economy Report. The Report tracks, on a quarterly basis, the international transactions that the Egyptian economy conducts with the rest of the world. It highlighted that Egypt’s total external debt has reached 35.1% of GDP at the end of December 2018.

The report indicates that, Egypt’s external debt remains within safe limits, in line with international standards. CBE pointed out that the average external debt in the European countries, and emerging markets (EMs) stands at 61.4% of GDP, while the ratio drops to an