The statements of local and foreign economic institutions contradicted the situation of the Egyptian economy, between those who see it as a collapse due to the rise in public debt, those who believe it is solid in various sectors and achieve positive growth indicators.

Earlier this month, Foreign Policy magazine published an article by former Egyptian investment minister Yahya Hamed, in which he spoke about the collapse of the Egyptian economy in contrast to the official institutions.

Hamed said investors poured into the country hoping to reap wealth one year after Egypt was re-positioned as a destination for global investment. By December 2018, however, the proportion of foreign holding institutions on domestic debt rose by more than 20 percent compared to the year before.

World Bank Report
In April, the World Bank published a report that showed that 60 percent of Egyptians are either poor or vulnerable to poverty. The Egyptian government has repeatedly stressed the soundness of its economic approach aimed at bringing prosperity to all citizens and taking measures to raise growth rates, Inflation.

In his article, which has been sharply criticized, Hamed said the government's mismanagement of public finances and public neglect has caused foreign debt to rise nearly fivefold in the last five years.

Hamed's article created anger and anger among the media supporting Egyptian President Abdel Fattah al-Sisi, and Egyptian newspapers rushed to convey comments from economists and economists to respond to the article and described him as a liar and a villain.

Monitoring and Figures
In the following report, the Anatolia Agency monitors the situation of the public debt in Egypt, based on the data of the Central Bank of Egypt within nine years.

- The public debt (domestic and foreign) rose to 86.3% of GDP during the period of the military junta which was authorized by former Egyptian President Hosni Mubarak during the announcement of his abdication of the rule of Egypt from 11 February 2011 to the end of June 2012.

Domestic debt rose to 1.238 trillion pounds ($ 74.1 billion), equivalent to 73.9 percent of GDP, while foreign debt stood at $ 34.3 billion, equivalent to 12.4 percent of GDP.

- The domestic and external public debt of Egypt at the end of the late President Mohamed Morsi's rule rose to 98.4% of GDP.

At the end of June 2013, domestic debt increased to 1.527 trillion pounds ($ 91.4 billion), equivalent to 82.1 percent of GDP, while external debt rose to $ 43.2 billion, or 16.3 percent of GDP.

The Egyptian public debt (domestic and foreign) during the year in which Adly Mansour assumed the Egyptian rule after the coup against Morsi was about 100.7% of the GDP. The local public debt increased to 1.8 trillion pounds (107.8 billion dollars), equivalent to 85.3% of GDP, While foreign debt reached 46 billion dollars, equivalent to 15.4% of GDP.

Egypt's external debt rose at the end of 2018 to 96.6 billion dollars (Bixby)

Sisi rule
Abdel Fattah al-Sisi officially assumed the presidency of Egypt on June 8, 2014. He was reelected in June 2018 for a second term, before an amendment to the constitution allowed him to stay until 2030.

According to the latest Central Bank of Egypt data, total domestic debt rose to 4.108 trillion pounds ($ 246 billion), equivalent to 78.2 percent of GDP at the end of 2018.

Egypt's external debt rose to $ 96.6 billion, equivalent to 35.1 percent of GDP, bringing Egypt's domestic and foreign debt to 113.3 percent of GDP by the end of 2018.

According to Central Bank of Egypt data, the average foreign debt per capita rose to $ 906.3 at the end of 2018, compared with $ 387.7 in June 2012.

Value of debt interest
In the fiscal year 2011/2012, the value of debt interest in the public budget rose to 104.4 billion pounds (6.25 billion dollars), equivalent to 6.8 percent of GDP in the fiscal year 2011/2012, then to 147 billion pounds (8.8 billion dollars), equivalent to 8.4% In the next fiscal year.

Since then, the debt service has continued to rise and is expected to record about 541.7 billion pounds ($ 32.4 billion), equivalent to 10.3 percent of GDP in the fiscal year 2018-2019.

On May 5, 2019, Egypt announced a government strategy to deal with public debt, which was reflected in the use of less expensive debt instruments than those used by the government in previous years to reduce the large obligations it had to spend.

The Egyptian government hopes to find loans on easier terms that will enable it to repay them in the medium and long term.