In what appears to be a new move by the Ministry of Finance to find solutions to the depleting revenues and liquidity in the general reserve, Al-Rai learned from informed sources that officials of the concerned government agencies were asked to determine the size of their expected revenue growth through fees.
The sources indicated that within the framework of Cabinet Resolution No. (956) for the year 2021 regarding the depletion of liquidity and the need to find radical solutions to confront the deficit in the state’s general budget and assign government agencies to reconsider their service fees and raise their value, the Ministry of Finance requested — after receiving the testimonies of some authorities — to provide it with full studies on the preparation of the expected growth in revenues, and the expected time frame for the completion and application of the study.
The sources stated that based on the outputs of government agencies’ studies regarding raising their fees, the “Finance” will be able to prepare a visualization of the expected volume of state revenues, and then set targets for future spending, and its views of the state’s financial situation in the future based on figures that reflect realistic or close to reality revenues.
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