Why we can’t achieve Jan-Dec budget circle next year – FG Welcome to CeeJayInfo

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Monday, 15 October 2018

Why we can’t achieve Jan-Dec budget circle next year – FG


The federal government yesterday said it is not feasible to achieve the January -December fiscal circle in 2019.

A Medium Term Expenditure Framework (MTEF) will however be submitted this month, while the 2019 budget estimates will be presented in November.

The Minister of Budget and National Planning, Senator Udoma Udo Udoma, disclosed this while speaking exclusively to Daily Trust yesterday in Bali, Indonesia, venue of the annual meetings of the World Bank and the International Monetary Fund.

He said the delay in submitting the documents to the National Assembly was due to the long recess embarked upon by the National Assembly.

“Now that they resumed, we are submitting the MTEF first this month and the budget next month,” the minister said.

He said the 2019 elections would not distract the implementation of the budget, because the president has ordered that the economic team should sustain the tempo in the economic recovery.

There are concerns that the 2019 budget will be delayed due to the electioneering campaigns and the fall back of the transition.

The government earlier targeted the month of September for submission of the budget documents but could not achieve that because the National Assembly is yet to pass the 2018 supplementary budget owing to its recess within the period.

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