2 Amendments of Christophe GOMART related to 2024/0071(COD)
Amendment 42 #
Proposal for a decision
Recital 9
Recital 9
(9) Egypt’s macro-fiscal situation has faced significant challenges and deteriorated substantially over recent months, as external pressures have intensified and public debt has increased further, with substantial downside risks to the economic outlook persisting. The repercussions of Russia’s war on Ukraine and of the situation in the Middle East following the Hamas terrorist attacks against Israel on 7 October 2023 have led to protracted capital outflows and lower foreign currency receipts, notably due to sharply falling income from tourism and Suez Canal proceeds. This is particularly challenging amid Egypt’s difficult fiscal situation, which is characterised by constant fiscal deficits and high and growing debt to GDP ratios.
Amendment 68 #
Proposal for a decision
Article premier – paragraph 3 – subparagraph 2 a (new)
Article premier – paragraph 3 – subparagraph 2 a (new)
It is essential that funds allocated under this macro-financial assistance are managed transparently so as to ensure that the resources are used properly, in line with the objectives set. The European Union will ensure that effective and independent control and audit mechanisms are in place to prevent any misuse.