Podcast
Questions and Answers
Who is primarily responsible for setting sector priorities and budget allocations in Egypt?
Who is primarily responsible for setting sector priorities and budget allocations in Egypt?
- Prime Minister's Office (correct)
- Ministry of Finance
- Ministry of Planning
- Line ministries
In which month does the consolidation stage of the budget process in Egypt typically conclude?
In which month does the consolidation stage of the budget process in Egypt typically conclude?
- April
- December (correct)
- June
- October
What is the last stage of the budget process before the fiscal year execution begins in Egypt?
What is the last stage of the budget process before the fiscal year execution begins in Egypt?
- Consolidation
- Review
- Implementation
- Modification (correct)
Which entity is responsible for reviewing the execution of the public budget in Egypt?
Which entity is responsible for reviewing the execution of the public budget in Egypt?
During which fiscal year does the budget process in Egypt run from July 1 to June 30?
During which fiscal year does the budget process in Egypt run from July 1 to June 30?
What trend is observed in the Gross Operating Balance from 2010 to 2015?
What trend is observed in the Gross Operating Balance from 2010 to 2015?
Which year had the highest revenue among the data from 2010 to 2015?
Which year had the highest revenue among the data from 2010 to 2015?
What are two primary strategies for government actions in response to budget deficits?
What are two primary strategies for government actions in response to budget deficits?
In 2015, what percentage of balance to GDP was reported?
In 2015, what percentage of balance to GDP was reported?
Which category showed the largest drop in revenue from 2011 to 2012?
Which category showed the largest drop in revenue from 2011 to 2012?
What is the main consequence of the government having a budget deficit?
What is the main consequence of the government having a budget deficit?
How did the expense trend from 2010 to 2015 compare to revenue trends?
How did the expense trend from 2010 to 2015 compare to revenue trends?
Which year had the lowest Gross Operating Balance observed?
Which year had the lowest Gross Operating Balance observed?
Flashcards
Who prepares Egyptian fiscal and budget policies?
Who prepares Egyptian fiscal and budget policies?
The Ministry of Finance (MOF) is responsible for developing and executing fiscal and budget policies in Egypt.
When does the Egyptian fiscal year begin and end?
When does the Egyptian fiscal year begin and end?
The fiscal year in Egypt starts on July 1st and ends on June 30th.
When does the negotiation stage of the Egyptian budget process occur?
When does the negotiation stage of the Egyptian budget process occur?
The stage involving negotiations between ministries, governorates, and the MOF takes place before the end of December.
Who is responsible for reviewing budget execution in Egypt?
Who is responsible for reviewing budget execution in Egypt?
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What is the role of line ministries in the Egyptian budget process?
What is the role of line ministries in the Egyptian budget process?
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Budget Deficit
Budget Deficit
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Government Revenue
Government Revenue
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Government Expenditure
Government Expenditure
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Budget Balance to GDP
Budget Balance to GDP
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Budget Surplus
Budget Surplus
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Government Treatment of a Budget Deficit
Government Treatment of a Budget Deficit
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Ministry of Finance
Ministry of Finance
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Central Accounting Office
Central Accounting Office
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Study Notes
Egyptian Public Budget
- Egypt's fiscal year runs from July 1st to June 30th.
- The budget process has five stages:
- Negotiations (among governorates, ministries, and the Ministry of Finance) by end-December.
- Consolidation (Prime Minister's Office submits a draft consolidated budget to parliament) by end-April.
- Modification (parliament reviews and approves budget) before end-June.
- Implementation (budget allocations disbursed and monitored throughout the fiscal year).
- Review (Central Accounting Office reviews budget execution).
Key Players in the Budgetary Process
- Prime Minister's Office: responsible for overall economic development and setting sector priorities/budget allocation
- Ministry of Planning (MOP): prepares the investment budget
- Ministry of Finance (MOF): responsible for fiscal and budget policies' preparation and implementation
- Line ministries: responsible for implementing sector policies with allocated budget resources
Example Scenario 1: Analyzing the Egyptian Public Budget
- Calculating the Gross Operating Balance (2010-2015): Data (in millions) is provided for various components of the budget like taxes, compensation of employees, user charges, etc for each year from 2010 to 2015. The difference between Total Revenue and Total Expenditure is the Gross Operating Balance.
- Government Action (2010-2015): The gross operating balance is negative in all the given years, indicating a budget deficit where expenditure exceed revenue. Possible actions include reducing expenditure or increasing revenue. Methods include cutting budget expenses, increasing taxes, or seeking borrowing international assistance.
- Percentage of Balance to GDP (2015): Given a GDP of 680 million pounds in 2015, the percentage of balance to GDP for this year is calculated as follows: (206.36 / 680) *100 = 30.3%
- Budget Preparation Responsibility: The Ministry of Finance is responsible for preparing the public budget.
- Budget Execution Review Responsibility: The Central Accounting Office reviews budget execution.
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