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Ibrahim Mahlab on Infrastructure Funding
The article focused on the vital role of the infrastructure projects carried out by Egypt between 2013 and 2015, sometimes referred to as the Marshall Plan, in strengthening the national economy and achieving development. The former Prime Minister, Ibrahim Mahlab, explained that these projects helped bridge a significant gap between societal needs and development efforts. They created employment opportunities for more than 5.5 million workers, attracted foreign investment, and improved service levels such as roads, energy, and water. He also emphasized that funding these projects through borrowing was necessary; without them, Egypt would have suffered from economic stagnation. These initiatives contributed to reducing traffic congestion, developing water and electricity networks, reclaiming agricultural lands, and upgrading ports, which helped decrease external debt from $48 billion to approximately $165 billion, while generating substantial developmental returns. Despite the challenges, Mahlab stressed that these projects were essential to save Egypt from recession and to achieve sustainable development.
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