Egypt's foreign debts hit 55.8 billion dollars in 2015/2016

Egypt's foreign debts hit 55.8 billion dollars by the end of 2015/2016, marking a 7.7 billion dollar rise in comparison with the end of 2014/2015, the Central Bank of Egypt (CBE) said.

The increase is attributed to the rise of net funds used from loans and financial facilitation by dlrs 7.4 billion, according to a report by the bank, a copy of which MENA obtained on Wednesday.

The bank said Egypt's total domestic debt also rose to EGP 2.285 trillion by the end of June 2016, up by 414.3 billion pounds in 2015/2016.

The domestic debt includes 103.7 billion pounds owed by the public economic bodies and 230.2 billion pounds owed by the National Investment Bank.