Egypt paid about $16.5 billion in external debt installments during the first nine months of the last fiscal year, and paid interest on these debts amounting to $3.5 billion during the same period, according to data from the Central Bank of Egypt.
Egypt's total external debt rose from $145.5 billion in the second quarter of the last fiscal year to $157.8 billion during the third quarter, equivalent to 34.6 percent of GDP, while total deposits with the Central Bank amounted to $14.9 billion.
At the beginning of last June, the Central Bank of Egypt revealed that Egypt has paid $24 billion in foreign debts and obligations since the beginning of this year, including the repayment of $10 billion in foreign debt, in addition to another $14 billion to foreign funds.
At the beginning of August, the Central Bank of Egypt announced that the balance of foreign exchange reserves had decreased to 33.143 billion dollars at the end of July 2022, compared to 33.375 billion dollars at the end of June 2022, a decrease of 232 million dollars.
Egypt's foreign reserves consist of a basket of major international currencies, including the US dollar, the single European currency (the euro), the British pound, the Japanese yen and the Chinese yuan, a percentage of which Egypt's holdings are distributed on the basis of the exchange rates of those currencies and their stability in international markets, and it changes according to a plan developed By officials of the Central Bank of Egypt.
The Central Bank had recently announced an increase in the annual core inflation rate in the country, according to its indicators, to reach 14.6% last June, compared to 13.3% in May 2022.
