Egypt hits new record EGP1.6tn debt
Cairo - Mohamed Alloush
Egypt has hit a record EGP1.6tn in national debts, a report by the country's central bank has revealed. The report estimated internal debt at EGP1.38tn at the end of last year. According to the report, 81 percent of debt figures is owed by the government, five percent by public economic bodies and 13.4 percebt by the National Investment Bank (NIB). The country's external debt increased by $0.335bn, or one percent, hitting $34.7bn at the end of the first quarter of the 2012-2013 fiscal year.
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