MINISTER OF FINANCE DIRECTS GOVERNMENT AGENCIES TO PREPARE THE 2024/2023 BUDGET

  • 28/07/2022

Kuwait City: Minister of Finance and Minister of State for Economic Affairs and Investment Abdul Wahhab Al-Rasheed directed all government agencies to prepare budget estimates for ministries, government departments and attached bodies for the next fiscal year 2023/2024, as he set dates for submitting government agencies’ budget projects to the Ministry of Finance no later than September 30, 2022, and that Government agencies not to require the establishment of new jobs for non-Kuwaitis during the fiscal year 2023/2024.

According to the circular issued recently under No. (5) of 2022, and “al-Anbaa” obtained a copy of it, Al-Rasheed indicated that the supplementary accreditation allocated to Chapter One has been canceled starting from the fiscal year 2022/2023, provided that the appointment is made according to the approved jobs in the entity’s budget and in accordance with the controls and the systems in place in this regard.

Al-Rasheed urged all government agencies, when preparing their draft budgets, to estimate the draft budget for the next fiscal year within the limits of what will be determined for the ceiling of each party’s budget expenditures and in accordance with the controls and instructions that will be issued by the Ministry of Finance, with the need to take into account the policy of expenditure pressure, rationalization of spending and the development of revenues without prejudice to performance.

Al-Rasheed stressed that all government agencies, when preparing their budget projects, take into account the projects that are relevant to them in the annual plan 2023/2024, and that the budget estimates are a translation of the goals, programs and policies contained in the third medium-term development plan (2020/2021 2024/2025), which has not been approved to date. .

Al-Rasheed added, “The various government agencies are requested to prepare their budget estimates in accordance with the Government Financial Management Systems (GFMIS) and to abide by the instructions and rules and to complete the tables and forms contained in this circular when preparing their budget projects for the fiscal year 2023/2024, and all government agencies must submit their budget projects to the Ministry of Finance on time. The specified ones meet all the required requirements, rules and data.”

He pointed out that the title of Chapter Five in Direction 1 of Revenues was changed from (Other Revenues) to (Revenues of Goods, Services and Other Revenues) from the beginning of the fiscal year 2022/2023, so that the title of the chapter reflects the activity of the collected revenues.

Al-Rasheed touched on the positives of shifting from accounting on the cash basis to accounting on the accrual basis in that it constitutes a comprehensive census of the assets, obligations and property rights of the state, which leads to better management of resources and obligations, as well as more accurate and consistent accounting records, and achieve a better view of the financial statements that allow comparison and analysis. more precisely.

This comes in the aspect of raising the level and effectiveness of the management and decision-making processes and a better assessment of the country’s financial position, providing a comprehensive database of fixed assets, enhancing the decision-making process in the field of asset purchase, maintenance and disposal, and a better evaluation of government performance according to the cost and activities of the service provided, and enhancing the understanding of the government’s management process. resources, and addressing the defects that appeared through the implementation of the state budget in accordance with the terms of the difficulty of reducing the waste of resources and the difficulty of linking them to specific objectives of the various state agencies.

The circular stressed that the provision of data requested by representatives of the general budget affairs, general storage affairs, the Department of General Hospitality and Conferences at the Ministry of Finance and representatives of the Central Agency for Information Technology should be taken into account, because of its importance in following up on the stages of preparing the budget draft, as well as clarifying any developments or general trends affecting In the project, and any delay or omission in providing and submitting this data, the government entity shall bear full responsibility for that.

He stressed the need for government agencies to pressure and rationalize spending as much as possible and work to find a kind of balance between services that lead to citizens and rationalize expenditures that are adopted to perform these services by making optimal use of available financial and human resources.

The circular stressed that it should be taken into account not to include new credits for items and types for which credits were estimated during the previous three years and were not spent on them or the exchange rates fell on them, except after presenting the reasons that prevented spending on them during the previous years and the new circumstances that require appraisal of credits for them. Finance is appreciated by the Ministry of Finance.

The circular included that leading employees subject to the civil service law and system appointed to the ranks of the leadership group positions on the general salary scale or their counterparts subject to special job regulations are granted a car allowance for each of them at the rate of 250 dinars.

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