Egypt is planning to lower its debt to GDP ratio to below 90 percent by the end of the current FY2021/22 — which will conclude at the end of June 2022 — and under 85 percent over the coming three years, according to Minister of Finance Mohamed Maait.
Maait made his statements during a ceremony that was held on Saturday to launch Egypt’s first Samurai bonds in Japan.
Minister of Finance Mohamed Maait stated the launch of the first Egyptian bonds in the Japanese capital markets is a culmination of the efforts of the ministry to raise the efficiency of debt management, diversify sources and financing tools, expand the investor base — taking into account geographical diversity — and optimally exploit any opportunities in global markets.
This contributes to reducing the cost of financing and carrying out development projects to create job opportunities and improve services provided to citizens and their standard of living.
