{"id":615547,"date":"2024-02-20T00:00:00","date_gmt":"2024-02-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/20\/maait-unveils-more-details-on-the-new-unified-budget-act\/"},"modified":"2024-02-20T00:00:00","modified_gmt":"2024-02-20T00:00:00","slug":"maait-unveils-more-details-on-the-new-unified-budget-act","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/20\/maait-unveils-more-details-on-the-new-unified-budget-act\/","title":{"rendered":"Maait unveils more details on the new Unified Budget Act"},"content":{"rendered":"

More on the new Unified Budget Act:<\/strong> Finance Minister Mohamed Maait unveiled<\/a><\/a>fresh details<\/a> on the proposed amendments to the Unified Budget Act, under which the budgets of all 59 of the state\u2019s economic bodies and the state budget will be presented in a new consolidated budget \u2014 dubbed the Public Government Budget.<\/p>\n

Better financial indicators:<\/strong> The amendments will help improve the state\u2019s financial indicators\u2014 at the moment the budget only accounts for the EGP 2.1 tn in revenues penciled in, leaving behind EGP 2.9 tn in revenues generated by the state\u2019s economic bodies. The new Public Government Budget will account for the entire EGP 5 tn of revenues.<\/p>\n

The timeline: <\/strong>The move to incorporate all of the state economic bodies\u2019 budgets into the Public Government Budget will happen gradually over a five-year period starting the fiscal year 2024-2025, Maait said. Forty economic bodies\u2019 budgets will be presented in next fiscal year's Public Government Budget if the amendments receive the necessary approvals. <\/p>\n

Debt limits for economic bodies:<\/strong> Maait added that the government is currently setting debt limits for all government bodies, which can only be overridden by the House.The government is also working to extend the average maturity of medium-term debt to four years, instead of three.<\/p>\n

What\u2019s next? <\/strong>The House will discuss the amendments next week, the statement read. Theamendments were greenlit by the cabinet<\/a> earlier this month.<\/p>\n","protected":false},"excerpt":{"rendered":"

The amendments will help improve the state\u2019s financial indicators<\/p>\n","protected":false},"author":1,"featured_media":615548,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[104,72,277,278,186],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-615547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam","tag-mohamed-maait","tag-state-budget","tag-unified-budget-act","wpautop","entry"],"acf":{"mongo_id":"146b3145-ac54-4832-be15-9e2799b474bc","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/1803.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s Maait reveals more details about the new Unified Budget Act","related_issue":[615535],"teaser":"The amendments will help improve the state\u2019s financial indicators","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.15d2fee3-f31e-472a-9601-851d822da789.mp3"},"yoast_head":"\nMaait unveils more details on the new Unified Budget Act - 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The legislation would require the government to be more transparent\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":616782,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/11\/tanmeyah-msmeda-to-lend-out-up-to-egp-200-mn-to-microenterprises-plus-news-from-smokery-house-acdima\/","url_meta":{"origin":615547,"position":3},"title":"Tanmeyah, MSMEDA to lend out up to EGP 200 mn to microenterprises. 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