External Debt in Egypt
Egypt - External Debt
Annual economic growth should be decelerating in H2 FY 2022 (January–June 2022), due to the fallout from the war in Ukraine. Goods exports growth slowed in January–February over the previous quarter, while tighter financial conditions will be dampening domestic demand. Meanwhile, pressure on the current account is increasing due to the country’s reliance on food and fuel imports. Further, soaring food prices are denting consumers’ purchasing power and could heighten social tensions. That said, support from Gulf neighbors and buoyant Suez Canal revenue should be providing support. On the heels of Fitch Rating’s affirmation of the country’s ‘B+’ rating, Moody’s followed suit, but downgraded the outlook to negative. It cited mounting downside risks, including a smaller shock absorption capacity amid dwindling reserves.Egypt - External Debt Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| External Debt (% of GDP) | 14.4 | 16.7 | 33.7 | 36.9 | 35.9 |
Egypt External Debt Chart
Source: Central Bank of Egypt and FocusEconomics calculations.
Egypt Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 13.70 | 0.0 % | Dec 31 |
| Exchange Rate | 16.04 | 0.0 % | Jan 01 |
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Economic News
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Egypt: Inflation comes in at highest level since May 2019 in July
August 10, 2022
Consumer prices increased 1.33% in July over the previous month, swinging from June's 0.16% fall.
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Egypt: Inflation declines to lowest level since March in June
July 7, 2022
Consumer prices fell 0.16% from the previous month in June, contrasting May's 1.03% increase.
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Egypt: PMI records worst reading in two years in June
July 6, 2022
The S&P Global Purchasing Managers’ Index—which measures business activity in the non-oil private sector—came in at 45.2 in June, down from May's 47.0.
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Egypt: Central Bank unexpectedly holds fire in June meeting
June 23, 2022
At its 23 June monetary policy meeting, the Central Bank of Egypt (CBE) opted to leave all of its rates unchanged, following May’s 200 basis point increase.
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Egypt: Inflation comes in at three-year high in May
June 10, 2022
Consumer prices increased 1.03% in May over the previous month, which was a sharp moderation from April's 3.26% rise.
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