2017 budget preparations on track, says Secretary to the Treasury Fredson Yamba

GOVERNMENT says the national budget will be presented in three months though it is on course with preliminary preparation and preparations of 2017-2019 Medium Term Expenditure Frameworks [MTEF].

Secretary to the Treasury Fredson Yamba said in a statement that he was confident that all budget preparatory processes will be completed in time.

According to Part XVI, Public Finance and Budget, Article 202 clause (3) of the Constitution, “In a year where a general election is held, the Minister responsible for finance shall cause to be prepared and laid before the National Assembly, within ninety days of the swearing in of the President, estimates of revenue and expenditure for the Republic for the next financial year.”

Mr Yamba said in this regard, the new government will have a maximum of ninety [90] days following the swearing of the President on Tuesday 13th September, 2016, in which to present the budget to the National Assembly.

“This is sufficient time for the new Cabinet to give guidance on policy and program priorities for next year’s budget, and for the Medium Term Expenditure Framework [2017-2019].

Mr Yamba said to facilitate broad consultations in this process, the Ministry of Finance, three months ago, issued an invitation for stakeholders and members of the public to submit proposals for Tax and Non-Tax Revenue Policy review. The response has been good.
He said in their open invitation to the public, individual stakeholders especially organisations representing interest groups were encouraged to ensure that internal consultations were conducted so that submissions which they finally presented to the Ministry had the full support and ownership their membership.

“Many stakeholders complied with this requirement; consistent with government’s long-standing policy of ensuring that the planning and implementation of financial and economic policies and programs is widely consultative,” Mr Yamba said.

He said an Inter-Ministerial Tax Policy Review Committee has been constituted to review the submissions and in some cases, undertake visits to various industries and organisations for on-the-spot appreciation of issues raised by stakeholders.

In respect of the public sector, Mr Yamba said the ministry has been holding preliminary consultations with Ministries Provinces and other Spending Agencies [MPSA’s] in order to appreciate the thrust of policies and programs which they [MPSA’s] wish to continue with or newly implement in 2017 and for which they will require funding.

This process will be consolidated once the Cabinet Ministers have been appointed and commence duties in the various Ministries.

As part of the preparatory process for liaison with the new Cabinet, Mr Yamba urged all MPSA’s to familiarize themselves with the PF Manifesto.