Finance Minister Mohamed Maait said that the Egyptian authorities is dedicated to monetary inclusion insurance policies for all sectors of the nation. That is consistent with the political management’s imaginative and prescient of maximizing digitization and its advantages, that are very important for reinforcing financial development, enhancing the enterprise local weather, and attracting funding amid international challenges. The federal government has adopted a nationwide technique to create a digital state, shifting from paper-based to digital work processes. It additionally applies insurance policies and measures to enhance the monetary system’s governance, improve authorities effectivity, and keep authorities monetary transactions utilizing superior know-how. The federal government additionally learns from the perfect worldwide practices in digital techniques in varied domains, which assist improve the state’s treasury revenues and enhance the standard of providers for residents.
Maait mentioned, in a press release from the Finance Ministry on Monday, that the Authorities Digital Fee Gateway (GePG) on the ministry achieved report operational charges from Could 2019 to November 2023. The digital cost and assortment providers reached EGP 8.1trn, with 607.3 million transactions. He famous a 12% development fee within the digital cost service for state staff’ dues and the issuance of 4.2 million playing cards with the nationwide “Meeza” card for state staff’ advantages. Furthermore, 93% of the issued playing cards have been activated thus far.
The Finance Minister indicated that the digital revenues for the Customs Division have been EGP 829.5bn, with a 24% development fee in digital funds for Egyptian customs after shifting to the “Nafeza” cost platform. He additionally reported stability in digital funds via totally different channels for Egyptian tax assortment, with a 30% development fee. The digital cost and assortment providers for Egyptian taxes have been EGP 1.9trn. He added that there was a major rise in residents’ choice to pay authorities dues electronically via the “Madfouat Al-Mowaten” service, with a 36% improve, reaching EGP 171.5bn. The gathering service via authorities digital point-of-sale machines (GPOS) was EGP 154.6bn, and the gathering worth via the federal government’s on-line cost gateway was EGP 1.5bn. He additionally talked about a major growth in digital assortment providers via built-in assortment firms with the Authorities Digital Fee and Assortment Middle, reaching about EGP 2.9bn in authorities revenues. The whole worth of wage funds was EGP 1.071trn, and digital cost service for suppliers was EGP 3.8trn.
He defined that as a result of quick tempo of technological developments, particularly in monetary know-how, and as a part of overseeing and managing all digital transformation techniques within the ministry, the governance procedures for these techniques are continually reviewed. This includes including new procedures to strengthen the governance of integration between the GePG, the Authorities Monetary Administration Info System (GFMIS), and the digital invoicing system. Moreover, the accounting items’ actions are monitored to boost the audit accuracy of allocating revenues collected to the required sorts and objects. Since December 2022, the Authorities Bill Issuance and Governance platform has been activated, linking digital cost orders for all suppliers and repair suppliers to administrative authorities with the digital invoicing system on the Tax Authority. Moreover, the deployment of digital assortment techniques and machines has been accomplished in all visitors items and entities making use of the one-stop-shop system to serve residents in all governorates.
