A round-up of public finance news stories from the Middle East and Africa you might have missed this week (May 13–17).
Angola to sell 33 state-owned firms
Angola, Africa’s second-largest crude oil producer after Nigeria, plans to sell about 33 state-owned companies over the next five years to increase efficiency and cut costs, according to economy minister Abraão Gourgel (Business Day Live, South Africa).
Gambia government to implement Medium Term Expenditure Framework by 2016
The permanent secretary number two at Gambia's Ministry of Finance and Economic Affairs has said that the government will introduce the Medium Term Expenditure Framework by 2016. Abdoulie Jallow said the MTEF process will provide more transparency and information for Cabinet, members of the public, and other ministries (The Daily Observer, Gambia).
World Bank endorses Nigerian state's financial management reforms
The World Bank has given its full backing to the public financial management reform agenda launched by Ogun State government on Wednesday, describing the initiative as strategic move towards enthronement of transparency in governance on a sustainable basis (The Guardian, Nigeria).
Egypt ‘suffering worst economic crisis since 1930s'
Egypt is suffering its worst economic crisis since the Great Depression, a former finance minister of the country and one of its leading economists have warned (The Guardian, UK).
Ugandan government seeks new public finance regulation
Ugandan finance minister Maria Kiwanuka and senior government technocrats have pledged a new era in the management of finances with particular focus on expected oil revenues (Daily Monitor, Uganda).
