Egypt's household debt at 7.3% of GDP

The size of consumer financing in Egypt, which amounts to 96 billion Egyptian pounds, accounts for approximately 7.3% of household debt relative to the gross domestic product. Globally, this percentage varies, reaching up to 30% in Gulf countries and 50% in Europe. Experts believe that the Egyptian market is still in its early stages and requires further growth, despite having an ongoing installment activity for decades. They explained that the Consumer Finance Law issued in 2020 established a regulatory framework for these activities. Currently, around 48 companies operate in the market, most of which are owned by banks and publicly listed institutions. These companies are required to adhere to financial standards and submit periodic reports, with the Regulatory Authority ceasing to issue new licenses for the past two years.

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