Egypt to Seek LE1.5 Trillion in Borrowing as Debt Servicing Consumes 50% of 2022/23 Expenditures

Publication Date: May 11, 2022

Geographies: Egypt

By: Beesan Kassab, Ehab al-Naggar and Rana Mamdouh

The government presented its draft budget for the coming fiscal year, outlining a total spending bill worth around LE2.71 trillion (nearly USD$150 billion) to lawmakers in the House of Representatives on Monday.

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