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Fouad: Economic model needed for debt repayment
Economic expert Dr. Mohamed Fouad stated that official figures regarding the improvement of the macroeconomy do not reflect the reality of citizens. He emphasized that the state will not be able to settle its debts except by changing its economic model, which currently relies heavily on consumption expansion and is largely dependent on taxes related to consumption, especially Value Added Tax (VAT). He called for reducing the state's reliance on unproductive public spending and generating real revenues that create fiscal space, through comprehensive reform of the economic system to produce sustainable income and reduce debt burdens.
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