The international bond bulletin issued by Egypt two weeks ago revealed that the country must pay foreign liabilities of $ 21 billion this year.
According to Al-Borsa newspaper, the Finance Ministry said in the bulletin that, according to the debt repayment schedule updated on June 30, Egypt must pay $ 21.4 billion during 2021, including 10.2 billion $ 11.2 billion in the first half and $ 11.2 billion in the second half, and repayment rates drop to $ 14.9 billion in 2022, and the last installment that Egypt will pay from its current foreign debt is supposed to be in 2071.
But a large share of the debt that is supposed to be paid includes deposits from Arab countries that are constantly being extended. The total deposits of those countries reached 17.2 billion dollars, including 7.5 billion For Saudi Arabia, $ 5.7 billion for the UAE, and $ 4 billion for Kuwait.
International institutions acquire 43 billion dollars of Egypt's external debt, while China is the largest lender on a bilateral basis to Egypt after Saudi Arabia and the UAE, with credit balances exceeding $ 4.1 billion. Egypt international bonds on February 8 worth 3.8 billion dollars on 3 tranches with maturities of 5, 10 and 40 years.
The ministry said that Egypt is about to activate the settlement with the Union Fenosa Gas Company on March 14th, after entering into several agreements to settle disputes over the Damietta liquefaction plant, after Fulfill a number of conditions.
In a related context, you mentioned that the arrears in favor of oil companies decreased to $ 850 million by the end of December 2020.
Egypt increased its bond program on the London and Luxembourg exchanges to $ 40 billion, according to what it said in the international bond offering prospectus.
The bulletin revealed that the state budget deficit declined to 4.4% of GDP during the period from July to January, compared to 4.6% during the same period of the last fiscal year.
public revenues rose to 549 billion pounds compared to 473 billion, while spending increased to 828 billion pounds compared to 737 billion, and in terms of revenues, the tax revenue rose to 406.7 billion pounds Compared to 367 billion, while other revenues increased to 142.5 billion pounds, compared to 105.7 billion pounds.
The increase in spending was driven by the increase in spending on the purchase of non-financial assets to 117.7 billion pounds compared to 76.4 billion, and spending on support and social benefits to 134.5 billion pounds compared to 106 billion pounds And the wage budget increased to 186.2 billion pounds compared to 171.4 billion, while the interest bill decreased ...
