Egypt's government gross debt to hit 91.4% of GDP in 2021

In its Fiscal Monitor Report that was released on Wednesday, the IMF expected this ratio to decline as of 2022 to record 89.5 percent, then to 78.2 percent in 2025, and then 74.1 percent in 2026.

Moreover, the report predicted Egypt’s general government net debt to jump to 83.5 percent of GDP in 2021, up from the 79.2 percent recorded in 2020.

The government’s net debt to GDP ratio is expected to commence its downturn in 2022 to reach 82.2 percent, then 78.8 percent in 2025, and 68.2 percent in 2026, according to the report.