Egypt's 2013-14 budget remains in limbo

Egypt is still working with the 2012-13 state budget, a fiscal year that already ended, while the new state budget remains in the files of the now-dissolved Shura Council.

The 2013-14 state budget was supposed to get the green light as of 1 July after Egypt's upper house of parliament approved it days before millions of Egyptians took to the streets nationwide 30 June demanding Islamist president Mohamed Morsi leave.

Morsi was overthrown 3 July after Egyptian military chief Abdel-Fattah Al-Sisi dismissed him, along with suspending the 2012 constitution and dissolving the Shura Council, in response to protest demands.

“Interim President Adly Mansour has to ratify [the 2013-14 state budget] instead of the Shura Council,” said Samir Radwan, former finance minister.

Radwan told Ahram Online that he faced this budget situation during his tenure as a finance minister, since parliament was yet to be formed and the Supreme Council of the Armed Forces had to approve the budget.

“[There are] no noticeable differences between the outgoing budget and the new one, so it will be okay to work temporarily with 2012-13 state budget,” said Radwan.