13/11/2024
Parliament passes the fiscal 2024 - 2025 national budget
The Transitional National Legislative Assembly in its sitting chaired by Rt. Hon Speaker Jemma Nunu Kumba, has unanimously passed the financial Year 2024-2025 budget. This comes after thorough deliberations on the financial and appropriation bills presented last week by Michael Ayuen Johnson, the Chairperson of the standing Specialized Committee on Finance and Economic Planning, and Dengtiel Ayuen Kur, the Head of Parliamentary Committee on Legislation.
The August House urges the Ministry of Finance and Planning to consider the new request made by Clusters in a form of supplementary budget when oil production and export resumes in blocks 3 and 7 at the Dar Blend site.
The Speaker of Parliament, Rt. Hon. Jemma Nunu Kumba, in her key note address to legislators, underscored the significance of paying salaries and arrears of the civil servants and organized forces. The Minister of Finance and Planning, Hon. Dr. Marial Dongrin Ater assured the lawmakers of his commitment to working closely with parliament to ensure effective implementation of the Fiscal Year 2024-2025 budget.
The third reading report of the Fiscal Year 2024-2025 budget, presented by Michael Ayuen Johnson, directs the Minister of Finance and Planning to present all loans to parliament for approval in accordance with the Public Financial Management and Accountability Act and the Constitution. Prior to passing of the financial budget, the parliament also directed the Ministry of Finance and Planning to clear 38 months salaries and wages arrears of the foreign missions.
Similarly, the parliament urges the Ministry of Finance to work in coordination with parliament to impose punitive measures against institutions failing to remit revenues to the government coffers in accordance with the Public Financial Management Act.
According to the report presented by Legislator Michael Ayuen, the Fiscal Year 2024-2025 budget has a deficit of 1,914,581,
