Egyptian MP warns against rising debt for future generations ...Kuwait

An Egyptian lawmaker warned Sunday against the financial repercussions Cairo faces if it continues borrowing money, saying it means that every citizen born will carry a portion of the national debt equivalent to 10,000 Egyptian pounds. Mohamed Abdel-Moneim Imam’s comments came as the government discussed the state's budget for the new fiscal year 2021-2022, which he rejected, aimed at covering a fiscal deficit that currently stands at 6.6 percent. Imam warned future generations were in danger of being swamped by the national debt if the Egyptian government continues borrowing from abroad. He added that current policies were not in line with economic reforms but merely

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Last updated : 14 June 2021 clock 07:30 PM

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Egyptian MP warns against rising debt for future generations ...Kuwait

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