Inspecting State budget management and use

The Ministry of Finance has imposed a mechanism for financial inspections on groups, corporations and State-owned businesses.

Accordingly, from the third quarter of 2011, the Finance Ministry will strictly monitor investment projects using the State budget, as well as the effectiveness of business operations and their ability to pay their debts.

Those businesses that show signs of financial instability will have to conduct special financial inspection mechanisms and produce quarterly rather than annual, financial reports like other businesses. Businesses suffering heavy losses will have to make report to the Prime Minister for consideration and settlement.

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