Re:Egypt is building a $1B mega-museum
by bobthepanda on Monday May 27, 2024 @07:17PM
(#40495707)
The problem is the rest of the balance sheet is pretty red. The government is spending $60B it does not have to build a new capital, and has already taken IMF lending. https://www.nytimes.com/2022/10/08/world/middleeast/egypt-ne...
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Egypt’s debt to GDP ratio is falling and is lower than the USA.
https://www.statista.com/statistics/377984/national-debt-of-...
Re:Egypt is building a $1B mega-museum
by resolutebat on Monday May 27, 2024 @08:50PM
(#40496292)
That's a pretty low bar, and more importantly, Egyptian debt is by and large not in Egyptian pounds, meaning they can't just print their way out of trouble.
Re:Egypt is building a $1B mega-museum
by bobthepanda on Tuesday May 28, 2024 @12:54PM
(#40502789)
The middle of the graph, the peak, is the current year.
It has not started falling yet, and it won’t particularly if they keep announcing new projects.
You need to worry about the rest of the spending. This project will bring many many times of its cost as profit over the years.
Re:Egypt is building a $1B mega-museum
by bobthepanda on Monday May 27, 2024 @09:07PM
(#40496377)
I think it is pretty safe to have doubts about Egyptian government profit projections. They also said the same thing about doubling the Suez canal but revenues did not meet projections and now they are planning to expand it again. https://www.middleeasteye.net/news/egypt-plans-expand-suez-c...