Al-Monitor

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

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