World Bank Global Director for Governance Arturo Herrera Gutierrez underscored the importance of measuring state assets in Egypt’s public finance management, noting that governments often emphasize financial flows, such as revenues, taxes, budgets, and public investment, while assets remain underrepresented in fiscal analysis. This, he said, can limit the completeness of the overall picture of public financial management.
Egypt’s Deputy Prime Minister for Economic Affairs Hussein Eissa met with Herrera Gutierrez to discuss cooperation on improving public investment efficiency, restructuring state-owned enterprises and economic authorities, and strengthening governance frameworks to support Egypt’s economic reform agenda. Minister of Planning and Economic Development Ahmed Rostom also attended the meeting.
Discussions focused on enhancing the efficiency of public spending, improving resource allocation, and aligning reforms with Egypt’s broader development priorities. Eissa emphasized that the government is pursuing a clear strategy to separate ownership from management in state-owned companies, stressing that success depends not on ownership structures but on management efficiency, operational effectiveness, and the ability to deliver services that meet both market and citizen needs.
He noted that Egypt is advancing restructuring efforts for state-owned enterprises and economic authorities through upgraded governance and management systems designed to balance economic efficiency with developmental objectives. The government also aims to strengthen its role as regulator, supervisor, and facilitator, while expanding opportunities for private sector participation in production and service delivery.
Eissa added that the state is reorganizing public entities based on their mandates and responsibilities, alongside restructuring several economic authorities to improve operational performance and administrative efficiency. The reform process also includes modernizing cost accounting systems, enhancing service delivery, and improving mechanisms for measuring state assets to support informed decision-making and sound management of public resources.
The meeting highlighted the importance of leveraging international expertise and technical support in implementing reform and restructuring programs, with the goal of strengthening governance and improving the management of Egypt’s state assets.
