Sadat calls for the disclosure of information on loans and grants received by the government in 2017 together with the Statement of Account and achievements of the President in 4 years

On the occasion of the end of this year 2017 and the coming of a new year, Mr. Mohamed Anwar Sadat, Head of Reform and Development Party (RDP) asked the Egyptian government to disclose the grants and loans received or concluded during the current year and the aspects of disbursement and the stance of the House of Representatives towards those grants and loans to be presented before the Parliament pursuant to the provisions of the Constitution and Conventions. 
Sadat said that the Egyptian government borrowed this year in a frightening manner and without a clear and effective plan to counter debt and its interest, including the issuance of treasury bills and dollar bonds abroad, which negatively affect generations to come. Moreover, some of these loans were presented to parliament months after they came into force. After taking the first and second tranche of them, we do not know where such money and deposits were spent.

Sadat explained that internal and external loans have increased dangerously. Every regime comes with its government and takes whatever economic decisions it wishes without discussion or oversight even from the elected parliament of the people whom this role is assigned. Thus, the sources of funding for national projects, such as the new administrative capital and others, their real cost and the return thereof, and the reconsideration of economic and financial affairs, should be revealed by inviting and listening to some Egyptian experts with different views. Also, we should cease resorting to Borrowing, and seek real alternatives, engaging the people and civil society. We should be informed of the reality of the economic and financial situation through dialogue and open discussions in which everyone participates.


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