FPAC Slashes Finance Ministry’s Budget Allocation

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By Kebba AF Touray

The Finance and Public Accounts Committee of the National Assembly (FPAC) has proposed a reduction in the 2024 draft estimates allocated to the Finance Ministry after a bilateral engagement with the Ministry on Tuesday, 21November 2023 at the legislative house in Banjul.

The estimated draft allocation for the Ministry of Finance and Economic Affairs is at Two Billion and Fifty-Three Million Six Hundred and Sixty-Nine Thousand Nine Hundred and Eighty-Four Dalasi (D2,053,669,984).  The cuts on the budget lines would affect the budget and will lower it.

During the said bilateral with the Finance Ministry, members of FPAC scrutinised the draft estimates of the Ministry of Finance together with the officials of the Ministry and the National Audit Office to determine which budget line needs consideration in terms of either maintaining the draft estimate or making cuts.

The cuts are in line with the objective of the FPAC to help reduce the budget deficit and help finance the budget deficit.

One hundred thousand Dalasi (D100,000) was cut from the Public Finance Management Reform budget line and now the proposed allocation after the cut is three hundred and fifty thousand Dalasi (D350,000) with two hundred and fifty thousand Dalasi (D250,000) cut from the Macro Analysis budget line of the Finance Ministry, and the allocation is seven hundred and fifty thousand Dalasi (D750,000).

Three Hundred and Fifty Thousand Dalasi (D350,000) was cut from the Ministry’s development planning budget line and the new budget line is Six Hundred Thousand Dalasi (D600,000). The lawmakers also cut Two Hundred and Fifty Thousand Dalasi (D250,000) from the budget line for office equipment and the new budget line is Seven Hundred and Fifty Thousand Dalasi (D750,000).

The lawmakers also proposed to cut One Million Four Hundred and Twenty-Four Thousand Dalasi (D1,424,000) from the budget line for the purchase of fuel and lubricants. The proposed allocation is now four million four hundred and twenty-four thousand Dalasi (D4,424000). The Committee also cut Two Million Dalasi (D2,000,000) from the budget line for furniture and the proposed allocation is now One Million and Sixty Thousand Dalasi (D1,060,000)

FPAC is now preparing a report for the bilateral engagement, which will be tabled before the plenary for final scrutiny, consideration, and approval.