POND ISLAND–A budget of NAf. 484 million has been approved for 2018 by the Council of Ministers. This budget is NAf. 34 million more than that of this year. The numbers budget was passed by the Council on Tuesday, Finance Minister Richard Gibson Sr. said on Wednesday. Government is on track to present the full budget to Parliament by September. The policy part of the budget is expected to be tabled in the Council of Ministers in three weeks, he said. This approval along with the numbers budget will complete the budget document that will go to Parliament.
The process to get the numbers budget “was not easy” said Gibson Sr., adding that “not all ministries are happy” with their allotted shared of the financial pie, “but there is not sufficient revenue to cover all” of the wish lists.
The policy section of the budget will contain several measures to increase Government revenues including the introduction of a departure fee for the country.
Source: The Daily Herald https://www.thedailyherald.sx/islands/66660-basic-budget-approved-by-council-of-ministers