Egypt's gross public debt up by 13.1 pct of GDP in FY 2022-23: finance minister

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Egypt's gross public debt up by 13.1 pct of GDP in FY 2022-23: finance minister

STORY: Egypt's gross public debt up by 13.1 pct of GDP in FY 2022-23: finance minister DATELINE: Aug. 11, 2023 LENGTH: 00:00:50 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of Cabinet of Ministers 2. various of Ministry of Finance 3. various of Egypt's Finance Minister Mohamed Maait speaking STORYLINE: Egypt's Finance Minister Mohamed Maait said on Thursday the country's gross public debt, the financial liabilities of the government sector, climbed by 13.1 percent to reach 95.6 percent of the GDP in the fiscal year 2022-2023 that ended in June. In a statement, Maait attributed the rise to "fluctuation in the currency exchange rate and decline of the local currency against the U.S. dollars." "The government targets taking the gross debt down to 80 percent of the GDP in the next four years," Maait was quoted as saying in the statement. It added that despite international unfavorable conditions that have driven up the prices of most strategic commodities due to supply chain disruptions that resul

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