Draft budget up for approval on Monday

PHILIPSBURG–Finance Minister Richard Gibson Sr. will be back in Parliament on Monday at 2:00pm to present the draft 2017 budget for approval. The budget will pass into law once approved by Parliament. However, it will still need the stamp of approval from the Committee for Financial Supervision CFT.

Members of Parliament (MPs) reviewed the budget and questioned the Council of Ministers on the contents of the draft budget from Monday to Thursday.

The draft budget for the coming year is up by NAf. 20 million compared to the amount budgeted for 2016. The total budget stands at NAf. 458,101,671 and is deemed balanced. Government has earmarked some NAf. 74,819,330 for capital expenditures. The current 2016 budget stands at NAf. 438 million.

It is also expected that Gibson Sr. will table an amendment to the draft budget to bring it into line with a series of measures recommended by CFT.

Source: The Daily Herald https://www.thedailyherald.sx/islands/62187-draft-budget-up-for-approval-on-monday