Prime Minister Mostafa Medbouly met with Housing Minister Sherif El-Sherbiny and Mohamed Ragai to assess the financial status of Egypt’s New Urban Communities Authority. Key discussions included the balance between revenues and expenditures, asset management, and the review of financial positions from July 2024 to February 2025. The meeting also examined project spending and expected cash flows.
On Wednesday evening, Egyptian Prime Minister Mostafa Medbouly convened a meeting 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 evaluate the financial status of the Authority. Medbouly highlighted the critical need for achieving a financial balance between revenues and expenditures while managing and assessing the assets of the Authority and new city administrations effectively.
During this meeting, Medbouly underscored the necessity of having a comprehensive vision to maximize benefits from the assets under the New Urban Communities Authority. Cabinet spokesperson Mohamed El-Homsani noted that the proceedings included a thorough review of the Authority’s financial standing, focusing on actual revenues and expenditures from July 1, 2024, to February 28, 2025, as well as anticipated figures for the remainder of the fiscal year.
The discussions also involved a comparative analysis of actual revenues and expenditures over the designated period for both the current and previous year. Furthermore, the session reviewed spending on ongoing projects throughout the country and the critical cash flows expected in the near future.
In summary, Prime Minister Medbouly’s meeting with key officials emphasizes the importance of financial balance and effective asset management within Egypt’s New Urban Communities Authority. The thorough review of financial standings and projected figures underscores the government’s commitment to optimizing the operations and benefits derived from urban development initiatives.
Original Source: www.dailynewsegypt.com
