Parliament Urges Focus on Productive Borrowing
The House of Representatives approved the new budget for 2026-2027, which is based on borrowing of 4.01 trillion Egyptian pounds, representing a 12.2% increase over the previous year. The budget primarily focuses on servicing debt interest, amounting to 2.42 trillion pounds, which accounts for 46.3% of total expenditures, while public investments remain weak at no more than 554 billion pounds. Deputy Ahmed Essam called for directing borrowing toward productive spending to boost economic growth and reduce reliance on debt.
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