Egypt’s external debt dropped $439 million by the end of the fiscal year 2021-2022’s first quarter for the first time in 18 months, data from the Central Bank of Egypt showed. External debt declined to $137.4 billion during that period, down from $137.8 billion in the previous quarter. The trade balance deficit declined by 22 percent during September 2021, compared to the same month last year, reaching $2.39 billion, down from $3 billion. The fiscal year starts from the beginning of July to the end of June of each year.