A sharp parliamentary split over new loan deals and completion of the electric train project
The Egyptian pound is currently trembling in front of exchange screens amid the merciless inflation faced by the citizen. The scene of the rejection of four new loan agreements by the people’s deputies revealed a real crisis. The value of these loans amounted to 26 billion pounds for the completion of the LRT train project recently. Aljazarah MP Irene Said considered this move a cry of reason amid the constant noise of debt. The news platform Planet News confirmed that this position is not just a parliamentary action but a complete bias for the citizen.
The rejection of the 10th of Ramadan loans is a death certificate for the current indiscriminate borrowing policy. Experts on Planet News questioned the feasibility of borrowing for projects that consume services and do not produce goods.
On the other hand, the second session of March saw a deep rift in the concept of parliamentary honesty. MP Mohammed Abdul-Aleem Daoud, parliamentary head of the delegation hall, described these loans as a real disaster. According to published by Kawkab news, some have tried to market the illusion of investing in debt under the banner of development necessity. It is noteworthy that the Constitution in Article (104) committed the MP to take full care of the interests of the people in studies Shadow.
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