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Elham AbolFateh

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Egypt’s public debt reached 108% of GDP in 2017: Finance Minister

Tuesday 11/December/2018 - 02:27 PM
Sada El Balad
Mohamed Emad

Finance Minister، Dr. Mohamed Moait، said that the debt ratio in 2017 reached 108% of Gross domestic product (GDP)، while reached 98% in 2018.

He pointed out that the government aims to reduce this percentage to 92during the current fiscal year 92% and reduce it during the fiscal year 2020 2021 to 80% only.

Egypt's Planning Minister Hala El-Saeed has said that the government seeks to achieve a gross domestic product growth rate of 10 percent by the end of the 2029-30 fiscal year.

In July، GDP rose by EGP 1.052 trillion during the third quarter of the fiscal year 20172018، an increase of 20%، compared to EGP 876 billion in the proceeding period last year، the Central Agency for Public Mobilization and Statistics (CAPMAS) reported in its monthly report.

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