Friday, 28 February 2020 02:46 AM
The sub-committee formed from the House of Representatives’s Plan and Budget Committee is preparing to study and discuss the final account of the state’s general budget and the budgets of economic public bodies and the National War Production Authority for the fiscal year 2018/2019, headed by Representative Mustafa Salem, the committee’s deputy, to finish preparing its report on the final account. Mustafa Salem, the head of the subcommittee, said that the report comes on more than 500 pages and includes more than 150 recommendations addressed to the government regarding the committee's observations on the final account .
The committee held 24 meetings to review the final accounts of the budgets of 42 entities, namely, 14 ministries, 15 public service bodies, 12 economic bodies, in addition to the final account of the budget of the National Military Production Authority, indicating that the total number of bodies and ministries that were discussed in the final accounts of its budget amounted to 42 Organization for the fiscal year 2018/2019
We monitor the committee's observations on government public debt:
- The average per capita income in the total of the internal government public debt increased to about 35 thousand pounds on 30/6/2019 compared to about 32 thousand and 107.3 pounds on 30/6/2018, and an increase of about 2898.1 pounds, or 9%, compared to the situation in 30/6/2018 .
- The percentage of burdens reimbursed from the total government debt balance compared to uses in the 2018/2019 fiscal year increased to about 47.5% compared to 46%, 44.8%, 45.3%, and 43.6% for the previous four fiscal years .
- The percentage of interest paid out of the total government public debt to tax revenue in the 2018/2019 fiscal year increased to about 72.4% compared to about 69.5%, 68.5%, 69.1%, and 63% for the previous four fiscal years .
- It was found that adequate feasibility studies were not conducted for many projects, especially those funded by loans, which were approved by the House of Representatives in the General Plan for Economic Development and Meetings in the fiscal year 2018/2019 and the previous ones, which resulted in delays or lack of benefit from them, and even bears the state budget Commitment commissions, including but not limited to (the presence of many water and wastewater projects that have been suspended since 2009, when the value of what was spent on them amounted to about 3 billion pounds).
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