Egypt’s foreign debt increases by $3.5bn, official figures show 

RIYADH: Egypt’s foreign debt increased by $3.5 billion in the fourth quarter of 2023, reaching a total of $168 billion, as reported by the nation’s planning ministry.  

This marks a climb from the $164.5 billion recorded at the end of September, representing 42.4 percent of the nation’s gross domestic product. Notably, 81 percent of this debt is categorized as long-term. 

This uptick in foreign borrowing is part of a broader trend over the last decade, during which Egypt has significantly increased its external debt, investing heavily in state-driven projects.  

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