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المصري اليوم
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Al-Masry: Measure public returns to tackle debt
The Egyptian Center for Economic Studies confirmed that addressing the issue of public debt is not limited to rearranging the repayment schedule; it begins with reviewing decisions related to spending and investment, and ensuring that those investments generate sufficient returns to service the debt. It also warned that using tools such as tax sukuk, which do not create new revenues but merely reorganize tax collection, will not solve the core problem and may increase reliance on borrowing expansion. The study pointed out that the external debt repayment schedule includes obligations totaling $62.8 billion over the year, with interest reaching nearly $7 billion. It clarified that these sukuk are used as a debt management tool rather than a fundamental solution, raising concerns about social justice, societal acceptance, and policy effectiveness—especially since their benefits primarily favor large investors. They may lead to the accumulation of commitments and delay addressing the roots of the financial crisis.
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