CAIRO - 18 May 2023: The Egyptian Minister of Finance, Dr. Mohamed Maait, said, in the financial statement on the state’s draft general budget for the fiscal year 23/24 submitted to the House of Representatives, that the fiscal policy works to achieve comprehensive development at the economic and social level despite all the challenges and severe shocks that the economy receives nationally in the current period.
This endeavor - according to the financial statement - is based on a number of axes:
1- Realism in estimating the targeted public revenues, in light of the tax community’s cost capacity, economic performance indicators, and target growth rates in the state’s sectors.
2- Effectiveness and rationality in estimating expenditures and controlling expenditures to the lowest possible limits in a way that ensures optimal use of available resources without affecting the continuation of the state's activities and the ability to achieve strategic goals.
3- Expanding investment spending in addition to encouraging the private sector to increase its investment spending in order to raise the efficiency of the infrastructure. This aims to improve the level of services provided and create job opportunities for many citizens.
4- The management of the institutions and public property should be in the interest of the public treasury, and that an appropriate return be achieved on the capital of these institutions without neglecting the performance of the social role of the state entrusted to some of them.