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Egypt’s overall debt-to-GDP has decreased by 10.9% between Q3 of 2017, Q3 of 2018: IIF - Daily News Egypt

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Egypt’s overall debt-to-GDP has decreased by 10.9% between Q3 of 2017, Q3 of 2018: IIF

Decrease originating from government, non-financial corporates, says IIF


Egypt’s overall debt to the GDP has decreased by 10.9 percentage points (pp) between the third quarter (Q3) of 2017 and Q3 of 2018, much originating from the government with -7.1 pp, and the non-financial corporates by -2.9 pp, according to the Institute of International Finance’s report (IIF) of monitoring debt in the Middle East.

The report explained that Egypt’s public debt recorded 94.7% of the GDP in Q3 of 2018, down from 101.8% of the GDP in Q3 of 2017, which is a decrease of 7.1 pp.

Meanwhile, the report explained that Egypt’s non-financial corporates’ debt reached 25.9% of the GDP in Q3 of 2018, down from 28.8% in Q3 of 2017, a decrease of 2.9%.

Furthermore, the IIF declared that Egypt’s households’ debt decreased by 0.6 pp, as it reached 7.0% of the GDP in Q3 of 2018, down from 7.6% in Q3 of 2017.

In addition to that, Egypt’s financial sector’s debt reached 5.4% of the GDP in Q3 of 2018, compared to 5.7% of the GDP in Q3 of 2017, a decrease of 0.4 pp.

Concerning the global debt, the IIF explained that the global debt has risen by more than 3 pp since 2017, exceeding 318% of the GDP in Q3 of 2018.

This is however slightly lower than the all-time high of 320% in Q3 of 2016, helped by the cyclical pickup in the global growth during 2017/18.

Moreover, The IIF asserted that the global debt is now more than three times the size of the world economy.

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https://dailynewsegypt.com/2019/02/02/egypts-overall-debt-to-gdp-has-decreased-by-10-9-between-q3-of-2017-q3-of-2018-iif/
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