Tue, 07 Sep 2021 - 02:37 GMT
FILE PHOTO: Egypt's Finance Minister Mohamed Maait gestures during a news conference in Cairo, Egypt July 17, 2019. REUTERS/Amr Abdallah Dalsh/File Photo
CAIRO – 7 September 2021: “Programs and Performance” budget is one of the most important tools for economic reform, achieving economic goals, and meeting development needs in accordance with the sustainable development vision “Egypt 2030”, Egypt’s Minister of Finance, Mohamed Maait, stated Tuesday.
The Egyptian minister said in a statement, that the budget includes speed and accuracy of achievement, upgrading government performance, unifying efforts in similar activities in various sectors, and linking ministries and agencies’ programs with government goals, in a way that contributes to the optimal implementation of it.
He pointed out that it contributes to raising the efficiency of public spending, achieving optimal utilization of state resources, making better use of the financial appropriations of the various budget agencies, setting spending priorities and following up on the implementation of programs within various government agencies and institutions.
The minister added that they have made great strides in the procedures for gradually implementing the “performance programs” budget in ministries, budgetary bodies, and economic bodies, in conjunction with the start of procedures for implementing the government financial information system “GFMIS” on economic bodies as well, to apply the highest standards of controlling, directing and controlling public spending; which contributes to strengthening the governance of the financial system, achieving economic and development goals, maximizing the use of the resources of these bodies, and upgrading the services provided to citizens.
In this context, the Ministry of Finance, in coordination with the United States Agency for International Development (USAID), organized a workshop to train 40 representatives of 6 economic authorities on the implementation of program and performance budgets, namely: “the Railway Authority, the New and Renewable Energy Authority, the Comprehensive Health Insurance Authority, the Industrial Development Authority, the National Academy for Youth Rehabilitation, and the National Social Insurance Authority.”
For his part, Deputy Minister for Public Policies and Institutional Development, Ahmed Kojak said that implementing the “programs and performance” budget helps economic bodies develop their financial management, prepare program and performance budgets, and improve work patterns, especially that the unified public finance law will be issued soon.
He stressed that it helps to easily monitor the cost and return of services provided to citizens, as well as their impact; It leads to achieving the best return for economic authorities in order to provide the best service to the Egyptian citizen, and thanks to the United States Agency for International Development for the support and assistance in training and rehabilitation and other programs implemented by the Ministry of Finance to ensure the achievement of its development plans.
Kojak pointed to the close relationship between the Ministry of Finance and various economic bodies, especially during recent years, which does not stop at holding training and rehabilitation workshops, but extends to participation in the files of developing bodies and their institutions to keep pace with the development process.
He pointed out that the program and performance budget gives us a degree of sound vision when setting the state's financial policies, measuring its various indicators and determining its results, as well as the Railway Authority, which started benefiting from the “Programs and Performance” budget in development operations.