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Egyptian budget under preparation

Draft for 2011-12 will be submitted to military council for approval

Ahram Online, Monday 28 Feb 2011
Views: 1743
Views: 1743

The Ministry of Finance is preparing Egypt’s draft budget for the 2011-2012 financial year, according to the Egyptian newspaper Shorouk, citing Samir Radwan, the current finance minister.

Shorouk reports new measures will be geared towards responding to the people's demands via different expenditure channels, although Radwan did not provide any specifics on the size of the budget.

A proposal is in place to extend the current financial year's budget until the election of a new parliament, given that the former parliament has been dissolved and the new budget would need to be approved by before the beginning of the new financial year in July 2011.

However, Radwan explained that this will not happen and the new draft budget, once finalised, will be submitted to the Supreme Council of Armed Forces (SCAF) for approval.

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