Egyptian Prime Minister Mostafa Medbouly reviewed the financial position of the New Urban Communities Authority, focusing on achieving financial balance and effective asset management. The meeting included overviews of actual and projected revenues and expenditures, with comparisons to the previous year.
On Wednesday evening, Egyptian Prime Minister Mostafa Medbouly convened with Housing Minister Sherif El-Sherbiny and Mohamed Ragai, Vice President of the New Urban Communities Authority for Financial, Administrative Affairs, and Human Resources, to assess the financial standing of the New Urban Communities Authority.
During the meeting, Prime Minister Medbouly highlighted the critical need to maintain a financial equilibrium between revenues and expenditures. He also emphasized the significance of the effective management and evaluation of assets controlled by the New Urban Communities Authority and other urban administrations. A comprehensive approach was deemed essential for achieving targeted objectives and extracting maximum value from these assets.
According to Cabinet spokesperson Mohamed El-Homsani, the meeting entailed a detailed examination of the New Urban Communities Authority’s financial status, which encompassed actual revenues and expenditures from July 1, 2024, to February 28, 2025, as well as projected figures through the end of the current fiscal year.
Additionally, the discussion included comparisons of actual revenues and expenditures during the specified period with the same timeframe from the preceding year. An overview of ongoing project expenditures throughout the nation and key anticipated cash flows was also presented during the session.
In summary, Prime Minister Mostafa Medbouly’s meeting aimed at reviewing the financial situation of Egypt’s New Urban Communities Authority underscored the necessity for balanced finances. Emphasizing improved asset management and comprehensive planning, the discussions included critical examinations of current financial data and comparisons with previous performance, indicating a proactive approach to budgeting and project funding.
Original Source: www.dailynewsegypt.com
