Government gross debt in Egypt

Egypt's government debt is the total of the domestic and external liabilities owed by general government to its creditors. It is reported in absolute terms and, above all, as a percentage of GDP to gauge sustainability.

Compiled by adding domestic debt (the bulk, in Egyptian pounds) and external debt, from Ministry of Finance and Central Bank of Egypt figures. Comparable series are usually taken from the IMF. The debt-to-GDP ratio relates the stock to nominal GDP.

A high debt level, with interest payments taking a large share of spending, bears on Egypt's macro-financial stability and access to financing. It is central to its IMF programme and closely watched by markets and rating agencies.

It is a low-frequency figure revised with the national accounts. The ratio also depends on nominal GDP; sharp devaluations of the pound raise the cost of foreign-currency external debt and move the ratio regardless of net issuance.