Billion Dollar Budget Described As ‘Credible’

Billion Dollar Budget Described As ‘Credible’

The Permanent Secretary of the Ministry of Finance and Treasury Shadrach Fanega has described the proposed 2011 National Budget as a 'credible' budget aiming to improve the quality of government expenditure.

Presenting the more than two-billion dollar Appropriation to the Public Accounts Committee Monday this week, Mr Fanega said the budget carries the theme "Improving the quality of public expenditure, invest in better services and lay the foundations for growth"

Mr Fanega said the budget wants to reduce public waste, increase efficiency in public expenditure, ensure government ministries are properly resourced, build infrastructure and lay foundations for growth as its theme suggests.

He told the Committee that the government has established a Public Expenditure Analysis Section in the Ministry's Budget Support Unit to drive these improvements.

The Public Expenditure Analysis Section was established last year and is funded by the World Bank.

Meanwhile, the Government is expecting a surplus of 24-million dollars at the end of the 2011 financial year.

Mr Fanega said the government expects to collect SB$1.9 billion in domestic revenue at the end of the financial year.

ENDS

© Scoop Media