Egypt’s internal debt rises on wider budget deficit
Egypt announced a plan for the issuance of treasury bills and bonds worth 181.5 billion Egyptian pounds, but experts say the government should slash outlays and increase public revenues through a raft of measures to ease the country's budgetary woes.
After the announcement of a plan to slash Egypt’s debt, authorities on Jan. 1 unveiled plans to issue treasury bills and bonds worth 181.5 billion Egyptian pounds ($10.1 billion) in January, up from 152.7 billion pounds ($8.5 billion) for the same month a year earlier.
Moreover, the government will increase debt issuances by 14% in the first quarter of 2019, year on year, to 473.7 billion pounds ($26.3 billion), up from 415 billion pounds ($23.1 billion) in the first quarter of 2018.
