5 Amendments of Hana JALLOUL MURO related to 2024/0071(COD)
Amendment 30 #
Proposal for a decision
Recital 6
Recital 6
(6) Recalling the geo-political challenges, such as the consequences ofongoing conflicts and tensions in the Middle East, whose spiral of violence was triggered by the Hamas terrorist attacks across Israel on 7 October 2023, as well as the armed conflict in Sudan, and the strategic importance of Egypt as the largest country in the region and a pillar of stability for the whole Middle East, the Union is embarking on concluding a Strategic and Comprehensive partnership with Egypt as outlined in the Joint Declaration.
Amendment 45 #
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 Hamas terrorist attacks against Israelthe conflict between Israel and Hamas 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 49 #
Proposal for a decision
Recital 17
Recital 17
(17) The Union's macro-financial assistance should aim to support the restoration of a sustainable external financing situation for Egypt thereby supporting its economic, political and social development.
Amendment 55 #
Proposal for a decision
Recital 22
Recital 22
(22) A pre-condition for granting the Union's macro-financial assistance to Egypt should be that the country continues to make concrete and credible steps towards respecting effective democratic mechanisms – including a multi-party parliamentary system – and the rule of law, and guarantees respect for human rights. Particular attention shall be paid to the respect for human rights in areas of shared concern between the Union and Egypt, such as migration management, ensuring that cooperation in these fields adheres to international human rights standards. In addition, the specific objectives of the Union's macro-financial assistance should strengthen the efficiency, transparency and accountability of the public finance management systems, the governance and supervision of the financial sector in Egypt and promote structural reforms aimed at supporting sustainable and inclusive growth, decent employment creation and fiscal consolidation. The fulfillment of the pre-condition and the achievement of the specific objectives should be regularly monitored by the Commission services and the European External Action Service.
Amendment 61 #
Proposal for a decision
Recital 28
Recital 28
(28) The Union's macro-financial assistance should be subject to economic policy conditions, to be laid down in a Memorandum of Understanding. These conditions should also include clear commitments to uphold democratic principles, the rule of law, and respect for human rights, ensuring alignment with the Union’s core values. In order to ensure uniform conditions of implementation and for reasons of efficiency, the Commission should be empowered to negotiate such conditions with the Egyptian authorities under the supervision of the committee of representatives of the Member States in accordance with Regulation (EU) No 182/2011. Under that Regulation, the advisory procedure should, as a general rule, apply in all cases other than as provided for in that Regulation. Considering the potentially important impact of assistance of more than EUR 90 million, it is appropriate that the examination procedure be used for operations above that threshold. Considering the amount of the Union's macro-financial assistance to Egypt, the examination procedure should apply to the adoption of the Memorandum of Understanding, and to any reduction, suspension or cancellation of the assistance.