The fiscal year in Egypt begins on July 1 of each year and ends on June 30 of the following year.
During the last quarter of the previous fiscal year, Egypt obtained two financing from the International Monetary Fund, one with $ 2.8 billion and the other with $ 2 billion.
Egypt sold $ 5 billion in bonds on international markets in May as part of measures to support the economy during the Coronavirus pandemic.
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(According to Al Mal newspaper report)
Long-term external debt increased by 11.6% in June to reach $ 112.6 billion by the end of June 2020, compared to $ 101 billion in March 2020.
Short-term foreign debt declined by 5.3% from the same period to $ 10.9 billion, compared to $ 10.3 billion in March.
(Prepared by: Shady Amir, Shady is a journalist for Reuters)
(Editing by Yasmine Saleh, for contact: [email protected])
Zawya Arabi covers economic news and analysis on the Middle East and the Arabian Gulf from Sunday to Thursday, and uses simple Arabic.
© ZAWYA 2020
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