In a statement issued today, Maeet said such improvements constitute decisive, bold and stimulating corrective measures to quickly restore economic activity and achieve sustainable growth.
“We are working on more than one axis in financial policies to enhance efforts to develop the economic situation, including the recent amendments to the Unified Public Finance Law that were ratified, through which the state’s public finances become more capable of achieving economic, development and social goals.
The minister said the recent amendments to the Unified Public Finance Law provide legislative mechanisms that enable us to control the deficit and debt rates of the gross domestic product, as the official indicators of the state’s public finances.
In state budget 2024-2025, total government expenditures hit 6.6 trillion pounds, and revenues 5.3 trillion pounds, in a way that reflects the state’s efforts to consolidate the principle of budget comprehensiveness, he said.
Debt-to-domestic product ratio will reach 80% in June 2027, as the law stipulates setting a maximum limit on the value of the “general government” debt and its ratio to the domestic product, and it may not be exceeded except in national imperatives and cases of necessity with the approval of the President of the Republic, the cabinet, and the House of Representatives.
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