Senate to Commence Work on 2020 Budget
The Senate says it will start work on the 2019 Budget Proposal with the consideration of the 2020-2022 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
This was disclosed by the President of the Senate Ahmed Lawan shortly on his arrival from a private visit to Morocco and Germany.
Lawan said the MTEF and FSP will be passed before receiving the 2020 budget from President Muhammadu Buhari.
According to the World Bank, MTEF is a transparent planning and budget formulation process within which the government and central agencies establish credible contracts for allocating public resources to their strategic priorities while ensuring overall fiscal discipline.
The Senate President also assured that the Senate is more than ready to pass the 2020 budget before Christmas.
Recall that the Senate before embarking on recess on July 30 had inaugurated 69 Standing Committees and their leadership and confirmed all 43 Ministerial nominees sent by the Executive.