#spending
Egypt’s Prime Minister Mostafa Madbouly ordered on 9 January 2023 the postponement of any unstarted projects that require foreign currency until the end of the fiscal year (FY) in June in order to cope with shortages in foreign currency and rising inflation. On Monday, Madbouly issued a set of regulations to rationalize public expenditure amid the ongoing economic crisis, which includes having many ministries seek the Ministry of Finance’s approval on foreign currency expenditure. Additionally, ministries have been asked to…
