Egypt repays 38.7 bln USD in debt in 2024: PM

CAIRO, Dec. 25 (Xinhua) -- Egypt paid 38.7 billion U.S. dollars of its outstanding debts in 2024, of which 7 billion were paid in November and December, Egyptian Prime Minister Mostafa Madbouly said on Wednesday.

He made the remarks at a weekly cabinet meeting, during which Madbouly acknowledged that repaying the debt was "a big challenge" for the country but reaffirmed Egypt's commitment to fulfilling its financial obligations, according to a cabinet statement.

The prime minister also disclosed that "the amount due next year will be less than what was paid this year."

Egypt's total external debt reached approximately 152.8 billion dollars in June 2024, compared to 168 billion in December 2023, according to previous statements by the prime minister. ■