This rate is the lowest since the figure announced at the end of the first quarter of the year 2022—23, when this debt reached 154.980 billion dollars.

Egypt's external debt fell to 152.885 billion dollars at the end of June 2024, a decrease of a value of 7.72 billion dollars (5%), against 160.60 billion dollars in the previous quarter, according to figures from the Central Bank of Egypt (ECB), published on Tuesday 15 October.

This rate is the lowest since the figure announced at the end of the first quarter of the year 2022—23, when this debt reached 154.980 billion dollars.

According to central bank statistics, Egypt's external debt reached a record high in the second quarter of 2024, amounting to $168.034 billion.

According to the ECB, long-term external debt fell to $126.8 billion at the end of June, from $138.551 billion at the end of December 2023.

At the same time, short-term debt stood at $26.24 billion, up from $29.482 billion.

The report states that government debt fell to $80.178 billion at the end of June, from $84.849 billion at the end of December 2023, from $84.849 billion at the end of December 2023.

This decrease is explained by the signing of megaprojects including the Ras Al-Hikma project and financing agreements with the International Monetary Fund, the World Bank and the European Union.