Cairo – Mubasher: Egypt’s debt service stood at $2.94 billion during the first quarter of fiscal year 2019/2020, including $1.7 billion in principal debt and $1.2 billion in interest, official data showed.

The North African nation’s external debt balance increased to $109.3 billion in the three-month period ended 30 September, including $98.32 billion in long-term debt and $11.03 billion in short-term debt, compared to $108.6 billion at the end of last June, according to the monthly statistical bulletin released by the Central Bank of Egypt (CBE).

External debt to gross domestic product (GDP) ratio narrowed to 34.4% in the July-September period, compared to 36% in the April-June period.