Finance Minister to present mid-year review of estimates in 2016 budget to parliament in July

Finance Minister, Seth Terkper is expected to present a mid- year review of estimates announced in the 2016 budget to parliament in July.

The disclosure was contained Guidelines for the preparation of the 2017-2019 budgets.

The document gives a breakdown on the various timelines for implementing some targets set out in the 2015, 2016 budget and the presentation of next year’s estimates.

The July date, set by the ministry might confirm earlier speculations that the supplementary budget presentation will not presented before the end of the first quarter as reported by some media houses.

This means that the finance ministry may now look at the option of presenting a mid-year review of the 2016 budget estimates and possibly a supplementary budget.

According to the guidelines, Government will start negotiating with organized labour on salaries for 2017 in April.

The move is to ensure that, government does not go into 2017 with any expenditure that is not approved by parliament.

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