Egyptian PM reviews public investment governance committee work
Egyptian Prime Minister Mostafa Madbouly chaired a meeting on Sunday evening at the government headquarters in the New Administrative Capital to review the work of the committee responsible for governing state public investments.
The meeting was attended by Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation; Ahmed Kouchouk, Minister of Finance; Counsellor Mohamed El-Faisal, Head of the Central Auditing Organization; and officials from relevant ministries and entities.
Madbouly began by noting the continued commitment of government entities to the specified financial ceiling for total state public investments, set at EGP 1trn for the current fiscal year 2024-2025, in accordance with Prime Minister's Decree No. 739 of 2024.
The Prime Minister explained that the meeting aimed to follow up on the status of public investments implemented by public companies during the first half of the 2024-2025 fiscal year. This is in line with Article Six of the aforementioned decree, which mandates all state entities – including economic authorities, public business sector companies, and companies fully owned by the state or in which the state holds more than 50% of their capital – to prepare a semi-annual report. This report must detail the volume and execution rates compared to targets for each period and be presented to the Committee for the Governance of Total State Public Investments.
During the meeting, a review of the most prominent entities implementing public investments during the first half of the 2024-2025 fiscal year was presented.
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