The Financial Supervisory Authority’s budget data during the new fiscal year 2021/2022 revealed that it rose to 1.293 billion pounds, an increase of 238 million pounds over the budget for the 2020/2021 fiscal year, with a growth rate of 22.5%.
The reason for the increase came after the Financial Supervisory Authority, when preparing the budget, took into account the economic division of the state’s general budget, the instructions issued by the Ministry of Finance, and the Central Computer Agency’s notes on previous years’ budgets. Therefore, the amounts invested in government treasury bills and bonds were included in its budget under the revenue item, and new budget items were introduced to include The return on these investments.
As for the estimated expenditures for the fiscal year 2021/2022, they were estimated at the same value as the revenues were estimated according to the government accounting system in force in Egypt, provided that the accounting difference between revenues and expenditures is treated in Chapter Five next to expenditures as an expected surplus.
This came days after the Economic Committee of the House of Representatives unanimously approved the budget of the Financial Supervisory Authority for the new fiscal year 2021/2022, in the presence of Counselor Reda Abdel Moati, Vice President of the Financial Supervisory Authority.
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