Prime Minister Mostafa Medbouly reviewed the financial status of Egypt’s New Urban Communities Authority alongside key officials. The meeting highlighted the need for fiscal balance and effective asset management, reviewed current and projected financial figures, and compared revenues and expenditures to the previous fiscal year.
On Wednesday evening, Egyptian Prime Minister Mostafa Medbouly held a meeting with Housing Minister Sherif El-Sherbiny and Mohamed Ragai, Vice President of the New Urban Communities Authority for Financial, Administrative Affairs, and Human Resources. The primary focus of this meeting was the financial status of the New Urban Communities Authority.
Medbouly highlighted the crucial need to maintain a financial balance between revenues and expenditures. He also emphasized the effective management and evaluation of assets owned by the Authority and newly established city administrations, advocating for a comprehensive vision to reach desired financial goals and optimize asset usage.
According to Cabinet spokesperson Mohamed El-Homsani, key discussions included a review of the Authority’s financial position, specifically actual revenues and expenditures from July 1, 2024, to February 28, 2025. Additionally, they reviewed projections for revenues and expenditures for the current fiscal year.
The meeting incorporated a comparative analysis of the financial figures from the same period in the previous year. They further explored project expenditures ongoing throughout the country, alongside the anticipated cash flow forecasts for the near future.
The recent meeting led by Prime Minister Mostafa Medbouly with key officials focused on reviewing the financial condition of the New Urban Communities Authority. The emphasis was on achieving fiscal balance and effective asset management. Discussions also included analysis of current revenues and expenditures and comparisons to the previous year, showcasing a forward-looking approach to financial stability and project funding in Egypt’s urban communities.
Original Source: www.dailynewsegypt.com
