Sunday, October 22, 2017

First budget in 12 years passed by Parliament. No audit of previous extra-budgetary outlays


Parliament has approved the state budget for the first time since 2005.
The budget, which is for fiscal year 2017, was ratified without a prior audit of previous extra-budgetary expenditures disbursed during the last 12 years.

The LL1,200 billion earmarked to finance the pay rise of public sector employees was reduced to LL500 billion. This was due to the late ratification of the budget.

The lawmakers have also decided to withdraw a clause regarding the resolution of the constr...

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