Masress : Military council has not drawn up 2011/2012 budget

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Military council has not drawn up 2011/2012 budget

MONA DIAA ANAS HABIB Published in Youm7 on 03 - 07 - 2011

CAIRO: An official in Egypt's Ministry of Finance said the military council has not drawn up the new budget for the financial year 2011/2012, despite three days passing of the new financial year. This caused a lot of confusion within the Ministry.
It has not been revealed up until now why the military council has not drawn up the budget despite its response to the council's orders to pass some amendments, reduce the deficit and not borrow money from outside.
Officials in the Ministry and Egypt's Minister of Finance, Samir Radwan, are expecting the results of the meeting today with the military council in order to solve the problem.
Radwan announced that he no longer thinks that borrowing from outside is the only solution, which means that all negotiations with the International Monetary Fund to borrow 3 billion Egyptian pounds will be suspended.

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