One of the new initiatives next year's budget would be coming up with is the tying of spending plans of various ministries and agencies to results and achievable targets.

This should mean that from next year, every government department would be required to account for funds disbursed before new allocations are made for the next quarter. 

The initiative is part of a broader policy program to ensure that government gets value for money and checks its spiraling expenses.

Head of Budget reforms at the Ministry of Finance, Eva Mends, tells Joy Business the budget would also come up with programs to address the rising wage bill.

“All MDAs [Ministries, Departments and Agencies] for the first time will have to assign wage and salary bills to the delivery of the program. Until now, wages are paid without recourse to what services we are getting from those wages.

“For every MDA to deliver a program, we will require the full cost of the services that you will be rendering,” Mrs Mends explained.

“You are not just giving us the cost of goods and services and assets, you are supposed to give us the number of people and the cost to deliver the service”.

This will form part of what officials of the Ministry call Program Based Budgeting. 

On Thursday, 14th November, Finance Minister Seth Terkper is expected to present the 2014 budget before Parliament.

Many interest groups would be watchful for programs to address the rising budget deficit. It is unclear if next year’s budget will introduce new taxes to address revenue shortfalls.