On the
occasion of the end of this year 2017 and the coming of a new year, Mr. Mohamed
Anwar Sadat, Head of Reform and Development Party (RDP) asked the Egyptian
government to disclose the grants and loans received or concluded during the
current year and the aspects of disbursement and the stance of the House of
Representatives towards those grants and loans to be presented before the
Parliament pursuant to the provisions of the Constitution and Conventions.
.
Sadat
said that the Egyptian government borrowed this year in a frightening manner
and without a clear and effective plan to counter debt and its interest,
including the issuance of treasury bills and dollar bonds abroad, which
negatively affect generations to come. Moreover, some of these loans were
presented to parliament months after they came into force. After taking the
first and second tranche of them, we do not know where such money and deposits
were spent.
Sadat
explained that internal and external loans have increased dangerously. Every
regime comes with its government and takes whatever economic decisions it
wishes without discussion or oversight even from the elected parliament of the
people whom this role is assigned. Thus, the sources of funding for national
projects, such as the new administrative capital and others, their real cost
and the return thereof, and the reconsideration of economic and financial
affairs, should be revealed by inviting and listening to some Egyptian experts
with different views. Also, we should cease resorting to Borrowing, and seek
real alternatives, engaging the people and civil society. We should be informed
of the reality of the economic and financial situation through dialogue and
open discussions in which everyone participates.
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