Committee submits input on budget

The Budget and Finance Committee of Parliament has provided recommendations to government that are crucial to improve the economy.   

Committee deputy chairperson Noel Lipipa presented the committee’s response to the 2023/24 Mid-Year  Budget Review Statement delivered in the House last Monday.

Among others, the committee has asked government to come up with long term strategy that will ensure availability of forex.

According to Lipipa, the committee wants government to cut on unnecessary expenditure to reduce borrowing.

“The committee urges the Minister of Finance to present comprehensive debt management measures. These measures should aim at breaking the cycle of increasing debt and foster a path towards economic development,” he said.

The committee also cautioned government to mind how it implements austerity measures to avoid disrupting social service delivery.

Further to this, the committee also called on government to enhance transparency and accountability in the management of non-tax revenue.

“With regard to mid-year projected estimates, the committee implores the Minister of Finance and Economic Affairs to make available to the committee budget projections as soon as they are formulated at the beginning of the financial year. This is to ensure that projections brought at mid-year do not raise doubt when compared to the actuals,” Lipipa said.

Members of Parliament have been responding to the statement since last week. 

Apart from political parties’, the Budget and Finance Committee was also allocated time to respond to the statement on Friday.