The Ministry of Finance revealed its relentless efforts to inventory the state's lands and real estate, modify its accounting system, and calculate the annual depreciation of these properties to accurately reflect the state's financial position. According to this step, the traditional accounting system for calculating state assets will shift from the cash basis to the accrual basis (annual depreciation).

The ministry expected in its budget statement to complete this initiative in 2020, which helps determine the value of assets, the extent of the benefit of their continued ownership by the government, and the size of the financial return on their investment, so that assets that are a waste of state resources, whether by putting them up for auction for rent, investment or sale.

The implementation of this standard comes within the plan to improve the approach and mechanisms of managing state assets that the Ministry of Finance has started to implement. It is a standard that is applied in companies and commercial organizations, and accurately reflects the value of assets, whether real estate, land or property. The move helps

The Council of Economic Affairs and Development formed a committee to inventory state property in mid-2016, and several ministries are working, including: Finance, Municipal and Rural Affairs, Education, Justice, and Housing.