Rédaction Africa Links 24 with MENA
Published on 2024-04-03 09:47:22
President Abdel Fattah al-Sisi recently made a significant move by signing Law No. 18 of 2024, which amended certain provisions of the Unified Public Finance Law. These amendments have far-reaching implications and are aimed at improving financial management within the government.
One of the key changes brought about by the new law is the full implementation of the program and performance budget. This shift is expected to be completed within a maximum period of six years from the date of implementation of the provisions of this law. This move towards a program and performance budget is designed to enhance accountability, transparency, and efficiency in government spending.
Additionally, the amendments include provisions for the development of functional and administrative structures and implementation components for the entities that fall under the purview of this law. The goal is to ensure that these entities have the necessary tools and resources to effectively enforce the new system and monitor its outcomes. By strengthening the capacity of government entities to implement and control the program and performance budget, the government is laying the foundation for more effective and responsible financial management.
The significance of these amendments cannot be understated, as they have the potential to bring about positive changes in how the government handles its finances. By introducing greater accountability and transparency into the budgeting process, the government is taking important steps towards improving governance and combating corruption.
The publication of the law in the Official Gazette underscores the government’s commitment to transparency and accountability in financial matters. By making this information publicly available, the government is demonstrating its willingness to be held accountable for its actions and decisions.
Overall, the amendments to the Unified Public Finance Law represent a significant step forward in modernizing and improving financial management within the government. By embracing the program and performance budget, the government is signaling its commitment to responsible and effective financial management practices. As these changes are implemented and enforced in the coming years, they have the potential to bring about positive changes in how government funds are allocated and spent.
In conclusion, President Abdel Fattah al-Sisi’s signing of Law No. 18 of 2024 marks a pivotal moment in the ongoing efforts to enhance financial management practices within the government. These amendments signal a strong commitment to accountability, transparency, and efficiency in government spending, and have the potential to bring about positive changes in how public funds are managed. It is clear that these changes are a significant step towards achieving better governance and ensuring that government resources are used effectively for the benefit of the country and its citizens.
Read Original article on Egypt Independent
