Egyptian minister outlines financial review

Egypt’s Finance Minister Fayad Abdel Moneim Cairo - Mohammed Abdullah Egypt’s Finance Minister Fayad Abdel Moneim has reiterated the government’s willingness to fight financial and administrative corruption,  and vowed to refer any cases of corruption to the public prosecutor. Moneim has also disclosed that the state would plan and study automated accounting, to ensure more transparency of the Egyptian government's financial management.   The minister pointed out that the automated accounting programme aims to automate all state public budget programmes, to benefit from the successful experience of automation, achieving effective control and ensuring more transparency. He confirmed that South Korea had offered to help Egypt in this sector. Commenting on problems with the Egyptian financial system, the minster said that the government is considering amendments to the Governmental Accounting Law No. 127, to repeal Article 14, which allows the authorities to ignore the financial controllers’ comments. The government also has a plan to oblige the accounts and all special funds to apply to this amendment, he added.