Egypt’s Minister of Finance Ahmed Kouchouk held an open dialogue with heads of financial departments nationwide, stressing that team building is essential to achieving remarkable results, noting that financial departments constitute one of the main pillars of any ministry of finance worldwide due to their central role within the state’s entire administrative system.

 

“At the top of our priorities at the Ministry of Finance is changing people’s perceived image of the ministry” Kouchouk said. “Our main goal is to strike a balance between our role in effectively managing public funds on the one hand, and providing support to citizens and helping other ministries perform their roles on the other.”

 

“We do not want future generations to face added callenhges because of decisions we take today,” he said.

 

He noted that financial incentives are linked to work performance and positive outcomes, stressing the need to achieve exceptional rather than conventional success in order to provide staff with appropriate remuneration.

 

“I am focused on developing resources and raising the efficiency of spending, not rationalizing spending,” Kouchouk said, adding that the ministry aims to increase spending on healthcare, education, social services, infrastructure and digitalization.

 

For his part, Ahmed Hareedy, head of the Accounting and Financial Departments Sector, underscored the importance of human development through the preparation of training plans in cooperation with the Central Administration for Human Resources.

 

The plans aim to build the capacity and efficiency of financial inspectors in line with ongoing upgrades to electronic systems.