Our Views
In context of the Minister of Finance’s explanation of the sources of funding for Egypt’s mega projects, he indicated two separate budgets, namely: The state budget, which is managed by the Ministry of Finance, and the budget of the 55 Economic Authorities, which is separate from that of the Ministry of Finance. It is surprising that the latter is twice the size of the State budget. The budget of economic authorities is estimated at EGP 4.2 trillion, while the State budget is estimated at EGP 2.1 trillion. In fact, each authority has its own budget that it disposes of as it sees fit according to its resources and the projects it wishes to implement—a situation that is worrying for several reasons:
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