Economy and Stock Exchange

Finance Minister: Completing the development and automation of 90% of the financial directorates in next June

Strengthening the governance of the financial system…to ensure the optimal use of the state’s resources

Directing financial appropriations to urgent needs.. Rationalization of public spending

We aim to reduce the budget deficit..and the debt-to-GDP ratio..and sustainable growth

Dr. Mohamed Maait, Minister of Finance, confirmed that the development and automation of 90% of the financial directorates will be completed before the end of next June, in a way that contributes to the governance of the state’s financial system and raises the efficiency of financial performance in the administrative authorities. In order to ensure the optimal use of the state’s resources and directing them to the specific development paths in accordance with the “Egypt 2030” vision; Improving the quality of life of citizens and the services provided to them.

The minister said that the coming period will witness the opening of a number of financial directorates in the governorates of Assiut, Beheira, Red Sea, Matrouh and New Valley; Which leads to achieving financial discipline, preserving the right of the state, citizens and workers as well, and implementing economic development goals, noting that building development helps create a stimulating work environment that raises the level of performance in a way that raises the efficiency of public spending.

The minister added that the government pays special attention to rationalizing public spending, so that financial credits are directed according to urgent needs in light of the global challenges that have cast a shadow on all economies of the world, especially in emerging countries, pointing out that financial controllers in administrative bodies play a pivotal role in the governance of expenditure system procedures. Revenues, a disciplined and conscious interpretation of the provisions of the law, and laying the foundations for optimal spending of financial allocations, in a way that contributes to reducing the state’s general budget deficit and reducing the size of the public debt to the domestic product, and sustaining the improvement of the structure and growth rate; This allows creating more job opportunities and promoting human development.

Tariq Bassiouni, head of the accounts and financial directorates sector, said that the train of modernization and mechanization of financial directorates is roaming the governorates, in line with the state’s efforts towards strengthening the governance of the financial system, along with upgrading government work patterns in accordance with ambitious programs that advance human cadres by providing the appropriate environment for the sustainability of training. In light of the latest international experiences, he pointed out that during the next three months, the Finance Directorate will be opened in the governorates of Assiut, Red Sea, and Beheira.

He pointed out that work systems have been fully automated in the financial directorates in the governorates of Assiut, the Red Sea, and Beheira, according to the latest technological technologies. This ensures raising the efficiency of performance and saving time and effort, and qualifies these headquarters to become models for developing the work environment and digital transformation, to achieve total quality.

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