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In exclusive statements to Al-Ahram newspaper, Finance Minister Mumtaz al-Said disclosed that the program for economic reform, supposed to be submitted to the International Monetary Fund (IMF) mission, has been finalized. The step comes as a prelude for preparing the 2012/2013 budget that will coincide with the commencement of the new five-year plan, which will witness economic changes, particularly in the fields of investment and encouraging the private sector, said al-Said.
The Minister also pointed out that the ministerial committee for supporting the economy approved a set of urgent measures to control the State general budget's deficit. These measures target rationalizing and cutting down the public spending by roughly LE 20 billion, in addition to boosting the State's revenues and earnings currently appraised at approximately LE 230 billion, he affirmed.
The minister said that such measures comprise disposal of the real estate units owned by the government bodies and agencies that are not currently utilized. These unutilized real estate units will be administratively shifted to other government departments that are in a real need of them, instead of letting or purchasing new real estate units, the minister added.
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