FPAC recommends slashing D58M from Finance Ministry’s budget 

FPAC recommends slashing D58M from Finance Ministry’s budget 

The Finance and Public Accounts Committee’s (FPAC) consolidated report on the committees’ consideration of the 2024 estimates of the revenue and expenditure of the republic of The Gambia, recommends a total reduction of D58,154,000 from the Ministry of Finance and Economic Affairs budget. 

The report also recommended a total reduction of D15,800,000 from the National Assembly’s budget. 

The Committee further recommends reallocations to priority budget lines as indicated on the attached addendum.

The Committee also recommends a total reduction of D74,300,000 from the Judiciary’s submission; it also recommends a total reduction of D48,582,500 from the IEC’s budget; D36,583,000 from the NAO’s submission and D1,470,000 from the Ombudsman’s budget. 

The Committee recommends reallocations to priority budget lines as indicated on the attached addendum for all the sectors mentioned.

It noted that the government continues to operate with a deficit of D4.45 billion; and FPAC’s commitment to reduce the budget deficit without adversely affecting the operations of MDAs.

The FPAC also recommends that MoFEA urgently implement a revenue review across government institutions particularly self-raised revenues by the MDAs to improve on the domestic revenue mobilisation and furnish.

It also recommends that NAO consider conducting a revenue audit across the MDAs.

The Committee further recommended that the National Assembly considers separating Finance as a standalone committee from the FPAC to focus on the budget and other related financial matters.

“That MoFEA critically consider improving the revenue base particularly maximizing on the extractive industry and fisheries sectors.”

“That the total reductions made should be maintained towards reducing the deficit.”

“That Government should honour its contractual obligations with its institutions to avoid accumulating debts.”

“That going forward the Ministry of Finance must not change the submitted budget of the Independent Institutions as dictated by the constitution.”

Source: The Point

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