April 22, 2019 / 10:37 AM / a month ago

Egypt expects borrowing needs to hit 820.2 bln Egyptian pounds in FY 2019/20 - document

CAIRO, April 22 (Reuters) - Egypt expects its borrowing needs in fiscal year 2019/20 to reach 820.7 billion Egyptian pounds ($47.89 billion), a 26 percent increase from the previous fiscal year, the draft budget seen by Reuters showed.

The draft showed that domestic borrowing would increase to 725.2 billion Egyptian pounds, while foreign borrowing would decline to 95.6 billion pounds.

$1 = 17.1375 Egyptian pounds Reporting by Ehab Farouk, writing by Sami Aboudi Editing by Gareth Jones

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