Egypt takes on massive development — and debt

While many economists are praising Egypt's major development projects in the fields of energy, agriculture and transportation, others are warning against the unprecedented debt the country faces due to such projects.

Construction work is carried out on a new twin-tube road tunnel along the Suez Canal, Ismailia, Egypt, Sept. 4, 2018.KHALED DESOUKI/AFP/Getty Images

CAIRO — As Egypt accepts more and more development dollars from other countries, economists worry that its debt has reached a dangerous level.

Egypt's parliament agreed in principle Dec. 9 to accept a Kuwaiti loan worth 50 million Kuwaiti dinars ($164 million) to begin building the Bahr al-Baqar water drainage treatment system.

The deal was signed in July between Egypt and the . The parliamentary commission tasked with studying the agreement recommended in its

You're reading a preview, sign up to read more.

More from Al-Monitor

Al-Monitor5 min read
Two More Elected HDP Officials Suspended In Turkey
Two elected officials were suspended over the weekend as pressure continues on the pro-Kurdish Peoples’ Democratic Party in Turkey.
Al-Monitor5 min readSociety
Southern Yemeni Women Enter Storm Of Politics, War
Many women in Yemen's south would like to see a return of the more progressive rights they enjoyed before Yemen's north and south merged in 1990; could the Southern Transitional Council's gains against the Hadi government in Aden help bring this abou
Al-Monitor3 min readPolitics
Trump, Europeans Push To Keep Space For Iran Diplomacy After Saudi Attacks
Following strikes on Saudi oil facilities, Donald Trump stated his desire to avoid escalation with Iran.