“To monitor it moment by moment.” A proactive government plan regarding cash balances was revealed

[size=52]“To monitor it moment by moment.” A proactive government plan regarding cash balances was revealed[/size]

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The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Sunday (November 5, 2023), the government’s work to reorganize and unify accounts in government institutions.[/size]
[size=45]Saleh said in a statement to the official agency, “The state’s public finances are working in high harmony with the government program, to reorganize, compile, and unify the accounts of spending or disbursement units in all ministries, regions, and governorates, from the state of dispersion in the past to the state of integration and integration with an interconnected aggregate accounting system, within the government accounts.” Within the banking system,” pointing out that it is “a proactive step towards achieving the single unified account for the treasury, or the so-called Treasury Single Account (TSA).”[/size]
[size=45]He added, “This step also aims to monitor financial transactions, flows, and existing government cash balances, moment by moment, in preparation for the next stage, which requires completing the complete electronic link between disbursement or public spending units, with a digital system called (ifmis), which means the financial management system.” Integrated informatics, which is the final advanced stage required by the unified treasury account system, is currently being worked on intensively and diligently by the Financial Authority.”[/size]
[size=45]He explained, “Adopting electronic collection and payment systems will help unify the unified treasury system, specifically in the field of digital cash flows related to collection and electronic payment, so that digital financial activities are immediately integrated with the unified collective government bank accounts.”[/size]
[size=45]Saleh continued: “This will add a source of strength and organizational speed that will make the unified treasury account approach its role towards faster integration into the digital climate and electronic payment systems, which have taken their positive role in organizing, speeding and governing cash flows, in order to know the cash presence of public finances clearly and daily, in addition to To facilitate the activity of financial control over trends in the management of public funds.”[/size]
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