Egypt’s Minister of Finance Ahmed Kouchouk said developing local resources in Egypt’s governorates will be a priority in the new budget for the coming fiscal year.
Speaking during a discussion session on development efforts in Aswan on Wednesday, Kouchouk said part of locally generated resources should be redirected to the areas where they originate through impactful development projects.
This, he added, would help localise development.
The minister said the government aims to achieve a tangible improvement in the quality of public services through more targeted initiatives and programmes that can improve people’s lives.
He added that the Finance Ministry’s role is to support state institutions in improving services and promoting economic empowerment.
Kouchouk stressed the importance of increasing development and economic empowerment spending, with priority given to healthcare, education and protecting vulnerable groups.
Aswan Governor Amr Lashin said the governorate has promising economic sectors and is working to attract investment and develop local industries.
He added that Aswan is seeking to make the best use of its regional competitive advantages to increase revenues.
UNDP Resident Representative in Egypt, Chitose Noguchi, said aligning local priorities with available financing sources helps ensure better allocation of resources and makes public spending more responsive to local needs.
