Arab Press

بالشعب و للشعب
Thursday, Oct 02, 2025

Egypt says it is not at risk of bankruptcy

Egypt says it is not at risk of bankruptcy

Egypt’s government has rejected claims that the country is exposed to bankruptcy risk due to its debts and the cost of servicing them during rate rises and inflation.
It also cited a report on the performance of the Egyptian economy from June to November.

The Cabinet said Egypt’s ratio of external debt to GDP was 34.1 percent, below the maximum risk limit of 50 percent.

The report said the structure and diversity of Egypt’s external debt instruments including loans, deposits, issued bonds and short-term credit facilities, were positive.

The Cabinet said that most of Egypt’s external debt was medium and long-term. Around two-thirds of foreign debt was also at fixed interest rates — which mitigates the risks of international rate increases.

It added: “In light of the successive economic crises that the world witnessed during the previous periods, governments all over the world tended to adopt expansionary economic policies to mitigate the consequences of the negative effects of these economic crises on families and companies.

“Such policies led to a significant rise in levels of global indebtedness, which rose to a record 350 percent of the global GDP by the end of the second quarter of 2022.”

The Cabinet added that Egypt aimed to maintain fiscal discipline, reduce the budget deficit to 5.6 percent of GDP, and achieve the first surplus from the state’s general budget permanently at 0.2 percent of the GDP.

These measures would contribute to reducing indebtedness and achieving financial and economic stability for the country’s general budget and ensure safety for current and future generations, said the statement.

The Cabinet statement came as Egypt’s Central Agency for Public Mobilization and Statistics announced on Thursday that the general index of consumer prices rose by 2.5 percent to 140.7 points in November.

The annual inflation rate in November rose to 19.2 percent, compared to 16.3 percent in October, said an agency statement.

The annual inflation rate in urban areas rose during November to 18.7 percent, compared to 16.2 percent in October.

The agency’s statement attributed the rise to prices increase for bread and grain by 52.1 percent, meat and poultry by 30.3 percent, fish and seafood by 38 percent, dairy products and eggs by 40 percent, and coffee and tea by 23.1 percent.

It also cited price increases in tobacco products by 0.3 percent, clothing by 2.1 percent, footwear by 1.3 percent, home furnishings by 2.6 percent, and appliances by 3.1 percent.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
UK, Canada, and Australia Officially Recognise Palestine in Historic Shift
Dubai Property Boom Shows Strain as Flippers Get Buyer’s Remorse
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
UAE-US Stargate Project Poised to Make Abu Dhabi a Global AI Powerhouse
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
×