Hommam Al Nassim 
Egypt’s public debt rose significantly to 8.6 trillion Egyptian pounds (about $179.5 billion) by the end of June, recording a 36.5% increase over the previous fiscal year.
According to the head of the Egyptian parliament’s Planning and Budget Committee, Fakhry al-Feki, 71% of this debt is domestic debt, while 29% is foreign debt.
“The rates of debt increase in the budget are higher than the increase in GDP, which is an indicator that needs more hedging and review,” al-Feki warned.
The data indicate that the debts owed by the Egyptian government amounted to 571 billion pounds in the 2022-2023 budget, of which 60% represents tax arrears and 40% customs arrears.
Many experts are calling on the government to take decisive action to collect these arrears, helping to reduce the overall deficit and public debt.
During the public debt debates in the House of Representatives, MP Diaa al-Din Daoud rejected the final account of the general budget, pointing to “clear imbalances” in budget estimates and high “debt payments.”
He also criticized the government’s recent deals to sell some assets, calling them “palliatives” that do not address the root problem.
Public debt is one of the most important economic challenges facing Egypt, as Egypt’s external debt increased from about $ 34.9 billion in 2011 to $ 164.7 billion in June 20231.
As for the internal debt, it jumped from 1044 billion pounds in 2011 to about 3888 billion pounds at the beginning of this year, an increase of about 2844 billion pounds, and a percentage of 272.4%.
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