{"id":464786,"date":"2019-02-14T12:26:14","date_gmt":"2019-02-14T11:26:14","guid":{"rendered":"https:\/\/en.financialafrik.com\/?p=464786"},"modified":"2019-02-14T12:26:14","modified_gmt":"2019-02-14T11:26:14","slug":"egypt-government-announces-plan-to-reduce-public-debt","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2019\/02\/14\/egypt-government-announces-plan-to-reduce-public-debt\/","title":{"rendered":"Egypt: Government announces plan to reduce public debt"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>In a statement released on Monday, Egyptian Finance Minister Mohamed Moeit outlined his department&#8217;s strategy to reduce the debt-to-GDP ratio to 93 percent in June 2019, to 88 percent in June 2019, and to 80% in June 2022.<\/p>\n<p>According to Mr. Moeit, this program targets an initial annual budget surplus of 2% of GDP and annual growth rates of more than 6% in the medium term. And explain that the government also aimed to reduce the external debt to 34% of GDP in June 2019, noting that Egypt&#8217;s external debt-to-GDP ratio fell from 41.1 in June 2017 to 36.8% in June 2018.<\/p>\n<p>In addition, the minister said that his department had managed to reduce the ratio of local and external debt to GDP at 97% in June 2018, against 108% a year earlier.<\/p>\n<p>It should be noted that the dollar-denominated short-term Egyptian debt fell by $ 3.25 billion to about $ 14 billion by the end of 2018.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>In a statement released on Monday, Egyptian Finance Minister Mohamed Moeit outlined his department&#8217;s strategy to reduce the debt-to-GDP ratio to 93 percent in June 2019, to 88 percent in June 2019, and to 80% in June 2022. According to Mr. Moeit, this program targets an initial annual budget surplus of 2% of GDP and<\/p>\n","protected":false},"author":536748,"featured_media":464789,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[11996,12046],"tags":[13894,15832],"class_list":{"0":"post-464786","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-finance-en","8":"category-leaders-en","9":"tag-egypt-en","10":"tag-mohamed-moeit","11":"post_format-post-format-aside","12":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt: Government announces plan to reduce public debt - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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