The ministry was working towards harmonizing and linking budgets, including state revenues and expenditures
More than 3 years ago, the Ministry of Finance launched an ambitious program with the aim to build the capacities of government workers specialized in preparing and implementing a new concept called “programs and performance based budgeting” (PPBB).
Today, 80% of state agencies and 69% of economic authorities have adopted PPBB in their budget planning for the current fiscal year, revealed Minister of Finance Mohamed Maait on Sunday.
The PPBB concept contributes to raising the efficiency of public spending, achieving optimal utilization of state resources, making better use of the financial appropriations of the various budget agencies, setting spending priorities and following up on the implementation of programs within various government agencies and institutions, he added.
The ministry was working towards harmonizing and linking budgets, including state revenues and expenditures, explained Ahmed Kochouk, Deputy Minister for Financial Policies and Institutional Development.
He added that the government is interested in green bonds as a basic pillar for establishing projects with international specifications.
Moving forward in the coming period, there will be a focus on quality bonds that achieve sustainable development goals, through programs that achieve equality in general or between genders, he pointed out.
These will support Egypt’s efforts, Kochouk noted, pointing out that Egypt is 19th and 1st in the MENA region in terms of issuing green bonds.
Kochouk added that the preparation for issuing green bonds took several years due to its difficult procedures, and that it is reviewed annually to confirm the extent of its impact in terms of reducing harmful carbon emissions, and other factors aimed at laying the foundations for clean energy.
Mohamed El-Sobky, Advisor to the Minister of Finance and Head of the Programs and Performance Unit, said that, during the last period, the ministry succeeded in implementing the “capacity building” program for workers specialized in the PPBB, and linking the sustainable development goals with the programs of the Egypt 2030 vision and the government’s work program 2018-2022.
