External debt drops to lowest level in two years and recorded $ 34 billion (Egypt)

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D. Kamal Ganzoury prime minister of Egypt

Revealed Central Bank of Egypt today, Monday, that Egypt’s foreign debts fell by 2.6%, an increase of 907.8 million dollars, up at the end of September last year to 34 billion dollars,compared to June 2011, This is the first decline in nearly two years when he scored 33.7 billion dollars, at the end of fiscal year 2009 to 2010.

The bank attributed the central, low external debt of Egypt, due to lower exchange rates ofmost currencies, the borrower before the dollar, equivalent to about 495.3 million dollars and a net repayment of loans and facilities reached $ 87 million, in addition to the lowerbalance of bonds and instruments of the Egyptian government issued in global markets .