Egypt to prioritise local resources, development spending in new budget

Egypt will prioritise developing local resources in its governorates in the new fiscal year’s budget and redirect part of those resources to development projects in the areas where they are generated, Finance Minister Ahmed Kouchouk said on Wednesday.

The approach aims to localise development and improve the impact of public spending, Kouchouk said during a discussion session on development efforts in Aswan.

The government is seeking a tangible improvement in the quality of public services through more targeted initiatives and programmes, he said.

“The role of the Finance Ministry is to support all state institutions to ensure better services and economic empowerment,” Kouchouk said.

The ministry also aims to increase spending linked to development and economic empowerment, with priority given to health, education, and protecting vulnerable groups, he said.

Aswan Governor Amr Lasheen said the governorate has promising economic sectors and is working to attract investment and develop local industries while leveraging its regional competitive advantages to increase revenues.

Hania Sholkamy, the finance minister’s adviser for economic justice policies, said development and social protection should be treated as an integrated approach aimed at improving living conditions.

She said social protection programmes should be better targeted at areas with the greatest needs, adding that field assessments could support more detailed analysis and a participatory approach to identifying those needs.

Chitose Noguchi, United Nations Development Programme (UNDP) Resident Representative in Egypt, said closer integration between local priorities and available financing sources could help direct resources more effectively and make public spending more responsive to local needs.