A member of the Egyptian Parliament has voiced strong opposition to a series of international loan agreements totaling over 26 billion Egyptian pounds for the tenth of Ramadan city rail project. The move underscores growing concerns over Egypt’s rising national debt.
Engineer Ehab Mansour, a deputy on the House of Representatives’ Labor Committee, publicly rejected the four loan agreements during a parliamentary session held Tuesday in the New Administrative Capital. He warned that future generations will bear the burden of these debts, stating, “These new loans are part of a series that our future generations will be held accountable for, even after I am gone.”
Mansour highlighted the scale of Egypt’s financial obligations, noting that domestic debt has reached 11 trillion Egyptian pounds, while foreign debt stands at $161 billion, bringing the total to over 20 trillion Egyptian pounds. He argued this level of debt places a significant strain on the country’s future economic prospects.
The lawmaker questioned the rationale behind accelerating the third phase of the tenth of Ramadan railway project, asking, “Where is the feasibility study for this idea?” He further inquired about the population density in the New Administrative Capital and the operational rates of the project’s first and second phases, as well as the economics of operation. Mansour asserted that a lack of thorough study would inevitably lead to losses, a scenario he firmly opposes.
He also raised concerns about a clause requiring full repayment of the loan if laws or policies change in either the lending or borrowing country.
Mansour criticized the government’s prioritization of projects, citing the deteriorated condition of a section of the Ring Road in Al-Omrania. He described the less than 900-meter stretch of damaged road as a daily hardship for three million residents of Al-Omrania, Al-Talia, and Al-Haram, arguing that its repair should not require billions of pounds.
He questioned why addressing this immediate need isn’t prioritized, and also pointed to the daily pollution caused by public buses as another area deserving of attention and investment. “Isn’t that a priority?” he asked.
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