Budget Preparation Stages in Egypt

Study Notes

The budget process begins with setting general policies and objectives by the Ministry of Finance (MOF).
This involves creating proposals and recommendations for the next fiscal year's budget.
The second step is issuing a budget circular.
Next, draft budgets are issued.
The final step in the preparation stage is the creation of the draft budget at the state level.

The next stage is ratification of the state's general budget.
This is followed by the implementation stage.
The final stage involves preparing the final accounts, encompassing the actual outcomes of the implementation.

The budget process spans a fiscal year, typically from September/October to June.
During September/October, the MOF issues circulars.
By December, ministries submit estimated budgets to the MOF.
Before March 31st, the executive submits their budget proposals to the legislature.
By July 1st, the fiscal year starts.
By June 30th, books are closed and accounts are sent to the Central Audit Agency for finalization.
By December, audit reports are submitted to the legislature.

The Ministry of Finance is the primary entity for preparing the general budget.
It prepares the draft budget and presents it to parliament.
They are responsible for the final accounts laws.
Quarterly financial performance reports are issued to monitor progress and performance.
The Ministry coordinates with the Ministry of Planning for investment budget preparation.

Parliament is mainly responsible for ratifying the draft general budget and making adjustments to financial allocations for various entities.
Parliament validates financial appropriations for the fiscal year.
Additionally, they approve the final accounts and follow up on the budget implementation.

The Central Audit Agency is entrusted with examining and auditing the budgets of various entities.
They produce accounting reports based on the audit results of budget implementation.

The Ministry of Finance promotes citizen participation by raising awareness about government plans and financial policies.
This participatory budgeting encourages citizens to be partners in sustainable development and decision-making.
This local level participation leads to a more transparent budget process and increased citizen satisfaction.