New system for overdue general government debts

The country’s General Secretariat for Information Systems and Public Administration has launched an online system that will record the debts of the various state entities to their suppliers in real time.

The Finance Ministry announced that the new system shows the financial position of each general government entity, the details of all of its overdue arrears and the reasons why they have been delayed.

This online database covers all of the general government’s 1,700 entities and will significantly improve the process for the collection of figures to be included in reports, which until recently were submitted in handwritten form.

It is set to improve the interconnection between the general and the central government, relieving the competent agencies of the administrative burden of submitting data to a central authority.

The ministry hopes that this will also facilitate the process for the payment of the arrears, which is the main objective, while strengthening fiscal discipline too.