Economic Expert: The New Budget Excludes Foreign Loans and Grants

Economic expert Dr. Mohamed Al-Nayer has confirmed that the budgets for 2024 and the upcoming 2025 fiscal year do not rely on external support in the form of loans or grants.

In an interview with Al-Ahdath, Al-Nayer praised the new budget’s focus on mobilizing domestic resources. He noted that no significant foreign loans or grants are anticipated, aside from some humanitarian aid directed toward Sudan. He remarked, “Realistically, no substantial loans or grants have been identified as part of the budget thus far.”

Al-Nayer emphasized the importance of relying on self-generated resources and increasing revenue through enhanced tax collection efforts, such as expanding the tax base. He described this approach as critical for significantly boosting revenue while reducing or curbing tax evasion, which could lead to a notable improvement in overall income.