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Accounting error in budget

Grave mistake made with regards to Egypt’s public budget, Economic Committee demand those responsible be held accountable


The new Sukuk law will be approved on Wednesday by the cabinet before being referred to the Shura Council (File Photo)(DNE/ FILE PHOTO)
Mohamed Al-Khouli, member of the Shura Council’s Economic Committee, demanded that those responsible for a recent accounting error made with regards to Egypt’s public budget be held responsible
(DNE/ File Photo)

By: Ibrahim Al-Masri

Mohamed Al-Khouli, member of the Shura Council’s Economic Committee, demanded that those responsible for a recent accounting error made with regards to Egypt’s public budget be held responsible. He stated in a recent press conference that a committee, led by Al-Khouli and composed of members of the Al-Tayar Al-Masry Party, had recently undergone a careful review of the country’s public budget, and determined that a grave financial error had been committed that could only be attributed to either ignorance or malicious intent.

He emphasised the need to hold those responsible accountable for their mistake, pointing out that the country’s budget was already supposed to have been reviewed more than once by a number of legal experts and specialists.

The error had to do with data regarding Egypt’s total tax revenues, which were estimated by a series of legal experts to total EGP 120.452bn. However Al-Khouli stated that after careful review these numbers were in fact only EGP 114.452 bn.

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https://www.dailynewsegypt.com/2013/05/12/accounting-error-in-budget/
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