Review of Financial Status of Egypt’s New Urban Communities Authority

Prime Minister Mostafa Medbouly reviewed the financial status of the New Urban Communities Authority with key officials. Emphasis was placed on balancing revenues and expenditures, effective asset management, and developing a comprehensive vision for achieving financial goals. The meeting included a review of actual and projected financial figures for the Authority and a comparison with the previous year’s performance.

On a recent evening, Egyptian Prime Minister Mostafa Medbouly convened a meeting with Housing Minister Sherif El-Sherbiny and Mohamed Ragai, who serves as the Vice President of the New Urban Communities Authority for Financial, Administrative Affairs, and Human Resources. The primary focus was to assess the financial status of the New Urban Communities Authority.

During the meeting, Prime Minister Medbouly highlighted the significance of achieving a financial equilibrium between revenues and expenditures. He emphasized the necessity for effective asset management and evaluation concerning the New Urban Communities Authority and its city administrations. The Prime Minister also called for a comprehensive vision aimed at reaching the desired objectives and optimizing the benefits derived from these assets.

Cabinet spokesperson Mohamed El-Homsani indicated that the meeting encompassed a detailed review of the New Urban Communities Authority’s financial condition. This review included actual revenues and expenditures for the period from July 1, 2024, to February 28, 2025, alongside projected figures for the remainder of the fiscal year.

Additionally, the meeting compared actual revenues and expenditures from the aforementioned period with the same timeframe from the previous year. The discussions further addressed an overview of expenditures on ongoing projects nationwide and key anticipated cash flows expected in the near future.

In summary, Prime Minister Mostafa Medbouly’s meeting with key officials aimed to ensure financial stability within the New Urban Communities Authority. He stressed the importance of balancing revenues and expenditures, effective asset management, and establishing a comprehensive vision for financial optimization. The review process is set to impact the Authority’s performance and generate valuable insights for future operations.

Original Source: www.dailynewsegypt.com