Madbouly reviews financial status of Egypt’s New Urban Communities Authority
Egyptian Prime Minister Mostafa Medbouly met with Housing Minister Sherif El-Sherbiny and Mohamed Ragai, Vice President of the New Urban Communities Authority for Financial, Administrative Affairs, and Human Resources, on Wednesday evening to review the financial position of the New Urban Communities Authority.
At the start of the meeting, Medbouly emphasised the importance of maintaining efforts to achieve financial balance between revenues and expenditures. He also stressed the need for the effective management and evaluation of assets owned by the New Urban Communities Authority and new city administrations. The Prime Minister underscored the importance of a comprehensive vision to achieve desired goals and maximise the benefits derived from these assets.
Cabinet spokesperson Mohamed El-Homsani stated that the meeting included a review of the New Urban Communities Authority’s financial position, including actual revenues and expenditures from July 1, 2024, to February 28, 2025, as well as projected revenues and expenditures until the end of the current fiscal year.
The meeting also involved a comparison between actual revenues and expenditures from July 1, 2024, to February 28, 2025, and the same period of the previous year. Furthermore, the discussion included an overview of spending on projects being implemented across the country, as well as key expected cash flows in the near future.
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