Prime Minister Medbouly Reviews Financial Status of Egypt’s New Urban Communities Authority

Egyptian Prime Minister Mostafa Medbouly reviewed the financial status of the New Urban Communities Authority alongside key officials. He stressed the need for financial balance and comprehensive asset management while analyzing actual and projected financial data. The discussions included comparisons of yearly revenues and expenditures, as well as spending on current projects and expected cash flows.

On Wednesday evening, Egyptian Prime Minister Mostafa Medbouly convened with Housing Minister Sherif El-Sherbiny and Mohamed Ragai, the Vice President of the New Urban Communities Authority for Financial, Administrative Affairs, and Human Resources, to assess the financial condition of the Authority. In the initial discussions, Medbouly highlighted the necessity of achieving a financial equilibrium between income and expenses, while urging the prudent management and evaluation of the Authority’s assets and those of new city administrations.

The Prime Minister emphasized the significance of formulating a comprehensive vision to fulfill objectives and optimize benefits from the Authority’s assets. Cabinet spokesperson Mohamed El-Homsani reported that the meeting critically examined the financial standing of the New Urban Communities Authority, focusing on actual revenues and expenditures recorded from July 1, 2024, to February 28, 2025, while also anticipating figures until the current fiscal year concludes.

Moreover, the meeting provided a comparative analysis of actual revenues and expenditures from the specified period against those from the previous year. In addition, the discussions encompassed a review of expenditures on ongoing national projects and highlighted key expected cash flows in the imminent future.

In conclusion, the recent meeting led by Prime Minister Mostafa Medbouly illustrated a strategic approach towards achieving financial stability within the New Urban Communities Authority. By focusing on effective asset management and evaluating financial performances, the stakeholders aim to ensure optimal resource utilization and foster economic growth within new urban developments.

Original Source: www.dailynewsegypt.com