Prime Minister Dr. Mostafa Madbouly met on Wednesday with Eng. Sherif El Sherbini, Minister of Housing, Utilities, and Urban Communities, and Mr. Mohamed Ragai, Vice President of the New Urban Communities Authority (NUCA) for Financial, Administrative, and Human Resources Affairs, to follow up on and review NUCA’s financial position, Invest-Gate reports.

Madbouly emphasized the importance of continuing efforts to achieve financial balance between revenues and expenditures, as well as managing and evaluating the assets owned by NUCA and the authorities of new cities.

He highlighted the need for an integrated vision that facilitates the achievement of desired goals in this regard and maximizes the benefits derived from those assets.

Counselor Mohamed Elhomosany, the official spokesperson for the Cabinet, stated that during the meeting, the financial position of NUCA was reviewed, including actual expenditures and revenues from July 1, 2024, to February 28, 2025, as well as the expected expenditures and revenues until the end of the current fiscal year.

He added that the meeting discussed a comparison between actual expenditures and revenues during the period from July 1, 2024, to February 28, 2025, and the same period in the previous year. Furthermore, the meeting reviewed spending on projects being implemented across the country and identified the most significant expected inflows for the coming period.