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Egypt’s GDD up 24%

Egypt’s central bank has said the country’s gross domestic debts rose by almost 24% in the fiscal year 2012/13 to EGP1.5trn (around $217.8bn), Ahram has reported. Gross domestic debts for the same fiscal year amounted to 87.5% of the GDP, the apex lender said in its September bulletin. Egypt’s external debts reached some $43.2bn during the same period, representing an approximate 25% rise from the previous fiscal year, it added.