CAIRO, Dec 24 (MENA) – Prime Minister Mostafa Madbouly said Egypt had begun a downward path in its debt indicators, noting that public debt had fallen to about 84 percent of GDP from 96 percent two years ago, and that the government was working to reduce it to levels not seen in five decades.
Madbouly said the economy was expanding and the state’s ability to manage debt was improving, adding that lower interest rates would gradually reduce debt-servicing costs and free up fiscal space for investment in priority projects such as universal health insurance and the “Haya Karima” rural development program.
Responding to questions from reporters at a press conference following the weekly Cabinet meeting, Madbouly said debt…