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Planning and Budget Committee to complete review of FY 2014/2015 budget this week Saying that EGP 32bn were lost from the budget is inaccurate, says Omar
The Planning and Budget Committee at the House of Representatives is planning to finish reviewing the final calculations for fiscal year (FY) 2014/2015, and will send it to the General Committee of the parliament in order to determine a session to vote on it. Yasser Omar, a member of the Planning and Budget Committee, said that the committee has ascertained that there are no wasted financial allocations are to be considered or discussed at the House of Representatives. He explained that claiming that EGP 32bn were lost from the FY 2014/2015 budget is inaccurate, because an additional allocation for the purchase of petroleum products was opened during the FY. The purchase was financed by grants. General revenues registered EGP 465.2bn during the year with a growth of EGP 8.4bn compared to the previous year. Expenses registered EGP 733.4bn, which increased by EGP 31.9bn from the previous FY. Omar said that the committee will continue discussions of the final calculations for the last fiscal year. A committee comprised of five members of parliament has been formed to study the budget. He added that the committee aims to complete all studies regarding the final calculations for the last two fiscal years, in order to review the semi-annual report of the performance indicators for the current FY. The government sent the performance indicators for the first half of the current FY to the House of Representatives at the beginning of January, as per the government's pledge when the government presented its programme to parliament.
