Egypt: Public Debt Exceeds Red Lines

A report released by the Ministry of Finance for November confirmed the rise in public debt in late September, saying it hit 69.7% of the GDP or EGP1.23 trillion compared to about EGP1.01 trillion in the same period of 2011.

The report attributed the rise in public debt to the growing number of bills and bonds issued to redress the deficit in the state's financial needs.

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