Back to the complete issue
Tuesday, 14 April 2020

House Planning Committee to review Unified Budget Act in June

LEGISLATION WATCH- House Planning Committee to review Unified Budget Act in June: The House of Representatives’ Planning and Budget Committee will review the Finance Ministry’s draft Unified Budget Act in June, committee chairman Hussein Eissa told Al Mal.

Background: The draft bill, unveiled by the ministry in January, merges legislation governing the annual fiscal budget and government accountability into a single bill that eliminates legislative overlap. The bill would require governments to present annual medium-term budgetary and fiscal strategies to the House of Representatives, and impose fiscal discipline by setting spending limits for each ministry. The legislation would also require the implementation of program and performance budgeting, and contain measures to increase transparency and oversight over government spending to curb graft and the misuse of public funds.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.