Egypt’s government gross debt to jump to 90.6% of GDP amid the COVID-19 crisis: IMF

Egypt’s government gross debt to jump to 90.6% of GDP amid the COVID-19 crisis: IMF

Egypt's general government's gross debt to GDP ratio is expected to increase to 86.6 percent in 2020, up from 83.8 percent in 2019, with projections to jump to 90.6 percent in 2021, the highest since the onset of the pandemic, according to the International Monetary Fund's fiscal monitor report released on Tuesday.

The ratio is expected to start declining as of 2022 to reach 87.8 percent, reaching 77 percent in 2025, according to the report.

The country's net debt to GDP ratio is also expected to increase to 78 percent in 2020, up from 74.4 percent in 2019, and is projected to jump to 82.7 percent in 2021; it is expected to start declining as of 2022 to reach 74.8 percent in 2025, according to the report.

Egypt's