Egypt’s government on Monday moved to postpone any new projects not yet implemented and with a clear US dollar component, and to postpone spending on anything that isn’t of the utmost urgency.
It also decided to rationalize all travel abroad for government delegates in extreme cases and after the approval of the Prime Minister, or in the event that the inviting party bears all travel costs with approval of the competent authority.
The Official Egyptian Gazette published the new decision by the Prime Minister regarding the rationalization of public spending in the entities included in the state’s general budget and the economic public authorities.
The Egyptian government decided that it is not permissible to authorize spending on prohibited items, as an exception, except in the cases estimated by the Prime Minister, after his approval and after reporting to the Finance Ministry so that it can carry out its affairs.
In regards to dealing with foreign currency, the government decreed that it is necessary to obtain the approval of the Finance Ministry to authorize spending with foreign currency on any aspect, after coordination with the Central Bank of Egypt and all concerned authorities.