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NILE ATLAS MACROLAB

PUBLIC FINANCES / SIX ECONOMIES

Government debt in Egypt and the Gulf

Compare dated domestic and external government debt, available maturity breakdowns, and IMF debt-to-GDP figures for Egypt and five Gulf economies.

Debt stocks and domestic maturity

Debt stocks are shown in each country’s currency. Dates and government coverage can differ. Original maturity runs from issue to repayment. Remaining maturity runs from the snapshot date to repayment. Amounts are displayed in billions and may differ from sums of displayed components due to rounding.

Egypt

Ministry of Finance budget-sector debt · preliminary ·

Total for this scope
EGP 17,633.900bn
Domestic
EGP 13,890.400bn
External
EGP 3,743.500bn

Domestic maturity. Domestic Treasury bond redemptions by fiscal year, partial schedule. FY 2026/27 EGP 951.000bn · FY 2027/28 EGP 2,217.000bn

At June 2026 the Ministry reported external budget-sector debt at USD 76.148 billion equivalent. External debt here covers foreign-currency obligations to nonresidents and is not a USD-only balance. Domestic debt can include foreign-currency obligations to residents. The prior March 2026 national release showed EGP 17,850.717 billion for central government.

Evidence Egypt Ministry of Finance · June 2026 debt bulletin, pp. 5, 13–16 · Egypt national data page · March 2026 central government debt

Saudi Arabia

Central government gross debt ·

Total for this scope
SAR 1,773.607bn
Domestic
SAR 1,135.965bn
External
SAR 637.641bn

Domestic maturity. A breakdown for this scope and date is unavailable in the verified evidence.

The September report presents domestic and external debt as funding categories. The components are separately rounded. In the March 2026 snapshot the separately sourced original-maturity domestic breakdown was SAR 28.544 billion short-term and SAR 1,014.232 billion medium and long-term combined.

Evidence Saudi Ministry of Finance · Q3 2026 budget performance, public debt p. 16 · Saudi national data page · central government gross debt

United Arab Emirates

Federal government bonds and sukuk · · Includes calculated amounts

Total for this scope
AED 66.875bn
Domestic
AED 30.150bn
External
AED 36.725bn

Domestic maturity. Remaining maturity. Up to 1 year AED 4.400bn · Over 1 to 5 years AED 25.200bn · Over 5 years AED 0.550bn

The amounts and maturity bands are calculated from the federal issuance ledgers. International bonds of USD 10 billion are converted at AED 3.6725 per USD. The total covers the listed federal securities and excludes emirate government borrowing.

Additional dated coverage. AED 32.500 billion in domestic federal Treasury bonds and sukuk outstanding, including institutional and retail series · . UAE Ministry of Finance · 6 November actual domestic balances.

Evidence UAE Ministry of Finance · domestic issuance programme · UAE Ministry of Finance · international bonds · UAE federal budget yearbook · external debt, p. 82 · Central Bank of the UAE · USD exchange rate

Kuwait

Sovereign marketable debt instruments · · Includes calculated amounts

Total for this scope
KWD 7.384bn
Domestic
KWD 2.550bn
External
KWD 4.834bn

Domestic maturity. Remaining maturity. Up to 1 year KWD 0.500bn · Over 1 to 5 years KWD 1.450bn · Over 5 years KWD 0.600bn

The Central Bank reports domestic public debt instruments of KWD 2.550 billion. Nile Atlas uses Ministry of Finance maturity schedules to group the domestic instruments and converts USD 15.75 billion of outstanding international bonds at the end-March rate of KWD 0.30695 per USD. The total covers these instruments only.

Additional dated coverage. KWD 4.050 billion in outstanding domestic issues, summed from 29 lines in the CBK public-debt register · . Central Bank of Kuwait · domestic public-debt register.

Evidence Central Bank of Kuwait · Q1 public debt instruments · Kuwait Ministry of Finance · opening balances and maturities · Kuwait Ministry of Finance · 2026 issuance and maturity schedule · Central Bank of Kuwait · end-March exchange rates

Oman

Government public debt ·

Total for this scope
OMR 14.160bn
Domestic
Unavailable
External
Unavailable

Domestic maturity. A breakdown for this scope and date is unavailable in the verified evidence.

The Q2 bulletin gives a rounded total. The last separately verified breakdown is the December 2025 prospectus: OMR 5.038 billion domestic and OMR 9.550 billion external, OMR 14.588 billion total. The original 2026–28 domestic maturity schedule remains available in the calculator.

Evidence Oman Ministry of Finance · Q2 2026 fiscal performance bulletin, p. 9 · Government of Oman · Series 11 sukuk prospectus, December 2025 stock

Gross general government debt as a share of GDP

The IMF’s October 2026 World Economic Outlook provides a separate comparison for its 2025 reporting year. Egypt uses the fiscal year ending June 2025. Gulf figures use the calendar year. IMF figures may incorporate staff estimates and have different coverage from the debt stocks above.

2025 reporting year · IMF World Economic Outlook, October 2026
EconomyGross debt (% of GDP)
Egypt
86.8%
Saudi Arabia
31.8%
United Arab Emirates
33.9%
Kuwait
14.6%
Oman
34.7%
Qatar
42.5%

IMF World Economic Outlook database · Source series (IMF DataMapper) · Nile Atlas sources and methods

Debt refinancing calculator

Start with dated sovereign principal and test a change in the borrowing rate. The examples include individual securities and partial maturity schedules. Amounts stay in the stated currency.

What a 100 basis point rise would add

Additional annual interest if all of the selected principal were refinanced 100 basis points higher
EconomyMaturityPrincipalCoverage and evidenceAnnual increase
Egypt31 Jan 2027USD 2bnNominal principal of one USD sovereign Eurobond.
As of · Egypt Ministry of Finance · June debt bulletin, p. 16
USD 20.00m
Saudi Arabia2027SAR 1.236bnAllocation to the 2027 sukuk tranche at issue. Later buybacks can change the outstanding balance.
Announced · Saudi National Debt Management Center · December 2025 issuance
SAR 12.36m
UAE2027AED 10.85bnOutstanding federal domestic T-bonds and T-sukuk due in 2027. Sum of three lines in the actual outstanding column.
As of · UAE Ministry of Finance · institutional issuance calendar
AED 108.50m
Kuwait2027KWD 0.5bnFour domestic government issues due in 2027, totaling KWD 500 million.
Register checked · Central Bank of Kuwait · public debt register
KWD 5.00m
Oman2027OMR 0.612bnScheduled domestic principal due in 2027 in the year-end debt stock. Partial repayment schedule.
As of · Oman Sovereign Sukuk Company · Series 11 prospectus, debt composition
OMR 6.12m
Qatar2028USD 1bnIssue principal of the three-year USD sovereign tranche.
Announced · Qatar News Agency · Ministry of Finance issuance announcement
USD 10.00m

Change the rate or horizon

Scenario assumptions

As of 30 June 2026. Nominal principal of one USD sovereign Eurobond. See maturity evidence

Preset reference: 5.117% yield reported at end-June 2026. The existing bond’s coupon is 7.5%.

Simple interest in USD millions
HorizonStarting rateScenario rateDifference
Annualized102.34122.3420.00
12 months102.34122.3420.00

Scenario annual rate 6.117%. USD 20.00 million difference over 12 months.

Annual interest change equals principal × basis-point change ÷ 10,000. The period result prorates this amount by months ÷ 12 from the assumed refinancing. The calculation holds principal and rates constant and excludes fees, compounding and FX conversion.

An existing coupon, issue rate or dated yield is a reference for the starting rate. Future borrowing terms can differ. Governments may also repay or refinance debt before scheduled maturity. Each result applies only to the selected principal under the stated assumptions.

Explore the sovereign budget scenarios

Exchange-rate sensitivity on disclosed dollar debt

See how a stronger dollar changes the local-currency value of a published US-dollar debt position in each economy. Some rows show a dated outstanding balance. Others show a single instrument at original issue. Later borrowing, buybacks and amortisation can change the balance. Dates and coverage differ by row.

Exchange-rate assumption
Currency conversion for selected principal amounts · billions in each row’s local currency
EconomyDisclosed USD debt positionLocal currency per USDBaseline translationStressed translationChange
Egypt
EGP billions
Conventional USD Eurobonds outstanding, 30 June 2026
USD 26.25bn
49.1612
June 2026 MoF reporting rate
1,290.4821,419.530129.048
Saudi Arabia
SAR billions
2036 trust certificates, original September 2026 issue
USD 2bn
3.75
SAMA parity
7.5008.2500.750
UAE
AED billions
Federal international bonds outstanding, 31 December 2025
About USD 10bn
3.6725
CBUAE midpoint of intervention rates
36.72540.3983.673
Kuwait
KWD billions
USD sovereign bonds listed as outstanding, 1 January 2026
USD 15.75bn
0.30825
9 November 2026 CBK reference
4.8555.3400.485
Oman
OMR billions
USD sovereign Eurobonds and sukuk outstanding, 31 October 2025
About USD 20.8bn
0.384497
Reciprocal of CBO parity (USD 2.6008 per OMR)
7.9988.7970.800
Qatar
QAR billions
2031 sovereign bond, original September 2026 issue
USD 1bn
3.64
QCB parity
3.6404.0040.364

The USD principal is held fixed. The FX scenario is separate from refinancing costs and annual budget gaps. For fixed parities it is a counterfactual exchange-rate change. The reported external-debt total can include multiple currencies.